Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $49,200.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00. Following the completion of the sale, the insider directly owned 128,635 shares in the company, valued at $1,582,210.50. This represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $10.01, for a total transaction of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The stock was 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 stock was 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 value of $49,200.00.

Cullinan Therapeutics Trading Down 0.6%

NASDAQ:CGEM opened at $12.50 on Monday. The stock has a 50 day moving average of $10.71 and a two-hundred day moving average of $8.56. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.33. The firm has a market cap of $738.50 million, a P/E ratio of -3.78 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Cullinan Therapeutics by 1,665.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock worth $1,054,000 after buying an additional 167,623 shares during the last quarter. Voss Capital LP grew its position in Cullinan Therapeutics by 43.8% in the second quarter. Voss Capital LP now owns 251,717 shares of the company’s stock worth $1,895,000 after acquiring an additional 76,717 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Cullinan Therapeutics during the second quarter worth $84,000. Franklin Resources Inc. increased its stake in Cullinan Therapeutics by 0.4% during the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock worth $16,778,000 after acquiring an additional 8,399 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Cullinan Therapeutics by 145.9% in the first quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after purchasing an additional 109,413 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. BTIG Research increased their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Friday. Finally, Morgan Stanley restated an “overweight” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

About Cullinan Therapeutics

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.