Cullinan Therapeutics (NASDAQ:CGEM) Stock: Insider Jennifer Michaelson Sells 4,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $12.36, for a total value of $49,440.00. Following the sale, the insider owned 158,649 shares of the company’s stock, valued at $1,960,901.64. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, September 8th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $21.57, for a total value of $172,560.00.
• On Thursday, August 13th, Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $20.26, for a total value of $607,800.00.

Cullinan Therapeutics Stock Up 4.7%

Shares of Cullinan Therapeutics stock opened at $11.31 on Friday. The stock’s fifty day moving average is $16.97 and its 200-day moving average is $15.83. The firm has a market capitalization of $727.91 million, a PE ratio of -3.65 and a beta of -0.03. Cullinan Therapeutics, Inc. has a 12-month low of $6.73 and a 12-month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Analysts expect that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current year.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in shares of Cullinan Therapeutics by 2,125.0% in the third quarter. Fisher Asset Management LLC now owns 800,961 shares of the company’s stock worth $12,295,000 after purchasing an additional 764,963 shares in the last quarter. Russell Investments Group Ltd. grew its position in Cullinan Therapeutics by 9.6% during the third quarter. Russell Investments Group Ltd. now owns 31,320 shares of the company’s stock valued at $481,000 after purchasing an additional 2,736 shares in the last quarter. AlphaCentric Advisors LLC grew its position in Cullinan Therapeutics by 4.2% during the third quarter. AlphaCentric Advisors LLC now owns 21,278 shares of the company’s stock valued at $327,000 after purchasing an additional 852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Cullinan Therapeutics in the 3rd quarter valued at approximately $50,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Cullinan Therapeutics by 20.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the company’s stock valued at $179,000 after buying an additional 1,961 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CGEM. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. BTIG Research lifted their target price on shares of Cullinan Therapeutics from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Wedbush raised their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. Finally, Wall Street Zen cut shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.86.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.

Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.