Jennifer Michaelson Sells 4,000 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 18th, Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock. The shares were 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 stock was sold at an average price of $12.52, for a total transaction 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 transaction of $125,120.00.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM traded down $0.22 during trading hours on Tuesday, hitting $11.56. The company’s stock had a trading volume of 385,276 shares, compared to its average volume of 372,219. The company has a market capitalization of $673.12 million, a PE ratio of -4.07 and a beta of -0.14. Cullinan Therapeutics, Inc. has a 52-week low of $10.00 and a 52-week high of $30.19. The business’s 50-day moving average is $13.38 and its two-hundred day moving average is $15.97.

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

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C raised its holdings in Cullinan Therapeutics by 188.1% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock worth $57,207,000 after purchasing an additional 2,141,706 shares during the last quarter. State Street Corp grew its stake in Cullinan Therapeutics by 20.4% in the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company’s stock valued at $39,125,000 after acquiring an additional 396,034 shares during the last quarter. RTW Investments LP increased its holdings in Cullinan Therapeutics by 62.1% during the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock valued at $28,558,000 after acquiring an additional 653,330 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Cullinan Therapeutics by 16.5% in the third quarter. Holocene Advisors LP now owns 1,533,579 shares of the company’s stock valued at $25,672,000 after purchasing an additional 217,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock valued at $20,233,000 after purchasing an additional 231,935 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

CGEM has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, UBS Group assumed coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company 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.