Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $50,040.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.51, for a total transaction of $50,040.00. Following the completion of the transaction, the insider now owns 95,760 shares of the company’s stock, valued at approximately $1,197,957.60. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, December 18th, Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.41, for a total transaction of $53,547.13.
• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The shares were 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 stock was sold at an average price of $15.64, for a total value of $125,120.00.

Cullinan Therapeutics Price Performance

CGEM stock opened at $11.13 on Thursday. Cullinan Therapeutics, Inc. has a 1 year low of $10.00 and a 1 year high of $30.19. The firm has a market capitalization of $648.08 million, a PE ratio of -3.92 and a beta of -0.14. The business has a 50 day simple moving average of $13.17 and a 200-day simple moving average of $15.90.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.09. On average, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CGEM shares. Wedbush reiterated an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. UBS Group began coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.67.

Institutional Investors Weigh In On Cullinan Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after acquiring an additional 3,758 shares during the period. Arizona State Retirement System acquired a new stake in Cullinan Therapeutics during the second quarter worth $182,000. Squarepoint Ops LLC acquired a new stake in Cullinan Therapeutics during the second quarter worth $186,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 4,380 shares during the last quarter. 86.31% of the stock is currently 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.