Jennifer Michaelson Sells 2,898 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 2,898 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 133,980 shares in the company, valued at $1,295,586.60. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 Price Performance

CGEM traded down $0.30 during trading hours on Friday, reaching $9.68. 1,862,750 shares of the stock traded hands, compared to its average volume of 658,545. The firm’s fifty day simple moving average is $9.30 and its two-hundred day simple moving average is $8.11. The company has a market cap of $571.86 million, a price-to-earnings ratio of -2.92 and a beta of -0.10. Cullinan Therapeutics, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $13.33.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Monday, December 8th. BTIG Research boosted their price target on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. Finally, HC Wainwright upped their price target on Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Cullinan Therapeutics in the 1st quarter valued at about $34,000. SG Americas Securities LLC bought a new position in Cullinan Therapeutics in the 3rd quarter worth about $62,000. Tower Research Capital LLC TRC increased its stake in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares during the period. Inscription Capital LLC bought a new stake in shares of Cullinan Therapeutics during the third quarter valued at approximately $67,000. Finally, Compass Ion Advisors LLC bought a new stake in shares of Cullinan Therapeutics during the third quarter valued at approximately $82,000. Institutional investors own 86.31% of the company’s stock.

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.