Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $28,023.66 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 2,898 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $28,023.66. Following the completion of the sale, the insider owned 133,980 shares of the company’s stock, valued at approximately $1,295,586.60. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jennifer Michaelson also recently made the following trade(s):

• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.90, for a total transaction of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24.
• On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00.

Cullinan Therapeutics Trading Down 3.0%

CGEM stock opened at $9.68 on Monday. The stock has a market cap of $571.89 million, a PE ratio of -2.92 and a beta of -0.10. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.33. The company has a 50-day moving average price of $9.35 and a 200 day moving average price of $8.11.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.18. Sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a research report on Thursday, November 20th. Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. HC Wainwright upped their price target on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Monday, December 8th. Finally, BTIG Research boosted their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.29.

Institutional Trading of Cullinan Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics in the first quarter valued at about $34,000. Tower Research Capital LLC TRC increased its holdings in Cullinan Therapeutics by 44.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after buying an additional 2,523 shares during the period. SG Americas Securities LLC acquired a new position in Cullinan Therapeutics in the 3rd quarter worth approximately $62,000. Inscription Capital LLC purchased a new position in Cullinan Therapeutics during the 3rd quarter worth approximately $67,000. Finally, Compass Ion Advisors LLC acquired a new stake in Cullinan Therapeutics during the 3rd quarter valued at approximately $82,000. 86.31% of the stock is currently owned by institutional investors.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.