Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) insider Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total transaction of $53,547.13. Following the completion of the transaction, the insider now directly owns 99,760 shares of the company’s stock, valued at $1,138,261.60. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Jennifer Michaelson also recently made the following trade(s):
- On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.52, for a total value of $43,682.28.
- On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.64, for a total transaction of $125,120.00.
Cullinan Therapeutics Trading Up 5.9 %
Shares of Cullinan Therapeutics stock opened at $11.60 on Friday. The firm has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $16.68. The stock has a market capitalization of $675.44 million, a price-to-earnings ratio of -4.08 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 1-year low of $8.49 and a 1-year high of $30.19.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of CGEM. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after acquiring an additional 872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Cullinan Therapeutics in the second quarter valued at about $182,000. Squarepoint Ops LLC acquired a new stake in Cullinan Therapeutics during the second quarter worth about $186,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Cullinan Therapeutics by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after acquiring an additional 4,380 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CGEM has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Finally, UBS Group began coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $31.67.
Read Our Latest Report on CGEM
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.
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