Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 3,601 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,601 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $14.47, for a total transaction of $52,106.47. Following the completion of the transaction, the insider directly owned 176,624 shares of the company’s stock, valued at approximately $2,555,749.28. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $13.99, for a total transaction of $24,510.48.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.08, for a total value of $165,327.36.
• On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.03, for a total value of $5,004.48.
• On Thursday, January 22nd, 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.
• 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 value of $28,023.66.
• 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 value 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.

Cullinan Therapeutics Trading Up 0.6%

NASDAQ:CGEM traded up $0.09 during midday trading on Wednesday, hitting $14.36. 858,348 shares of the stock were exchanged, compared to its average volume of 730,212. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $14.56. The company has a market capitalization of $848.33 million, a price-to-earnings ratio of -4.34 and a beta of -0.09. The business has a 50-day moving average price of $11.41 and a two-hundred day moving average price of $9.27.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research cut Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Wall Street Zen cut shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Guggenheim began coverage on shares of Cullinan Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 29th. Finally, Citigroup assumed coverage on shares of Cullinan Therapeutics in a report on Tuesday, February 17th. They issued a “buy” rating and a $33.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Lynx1 Capital Management LP raised its stake in shares of Cullinan Therapeutics by 31.0% during the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after buying an additional 1,365,248 shares during the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Cullinan Therapeutics by 5.2% during the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock worth $14,890,000 after purchasing an additional 125,000 shares during the period. Franklin Resources Inc. lifted its stake in Cullinan Therapeutics by 0.4% in the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock valued at $16,778,000 after buying an additional 8,399 shares in the last quarter. State Street Corp boosted its stake in Cullinan Therapeutics by 31.0% in the 4th quarter. State Street Corp now owns 2,197,338 shares of the company’s stock worth $22,742,000 after purchasing an additional 520,024 shares during the period. Finally, Affinity Asset Advisors LLC boosted its position in shares of Cullinan Therapeutics by 632.4% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after buying an additional 1,668,289 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

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.