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 dated Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the transaction, the insider now owns 95,760 shares in the company, valued at $1,197,957.60. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 value of $53,547.13.
• 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 Down 3.7 %

NASDAQ:CGEM opened at $11.13 on Friday. The stock has a market capitalization of $648.08 million, a P/E ratio of -3.92 and a beta of -0.14. Cullinan Therapeutics, Inc. has a 1 year low of $10.00 and a 1 year high of $30.19. The firm has a 50 day moving average of $13.08 and a 200-day moving average of $15.87.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.09. As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CGEM. Amalgamated Bank lifted its position in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after buying an additional 3,758 shares in the last quarter. Arizona State Retirement System bought a new position in Cullinan Therapeutics in the 2nd quarter valued at $182,000. Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at $186,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after acquiring an additional 4,380 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set 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 MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $31.67.

About Cullinan Therapeutics

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.