Jennifer Michaelson Sells 4,693 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,693 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total value of $53,547.13. Following the completion of the sale, the insider now directly owns 99,760 shares of the company’s stock, valued at $1,138,261.60. The trade was 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 hyperlink.

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

• 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 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 Trading Up 5.9 %

NASDAQ CGEM opened at $11.60 on Friday. The business’s 50 day moving average is $14.28 and its two-hundred day moving average is $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 12-month low of $8.49 and a 12-month high of $30.19.

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

Institutional Trading of Cullinan Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CGEM. Deerfield Management Company L.P. Series C lifted its position in shares of Cullinan Therapeutics by 188.1% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock valued at $57,207,000 after acquiring an additional 2,141,706 shares during the period. State Street Corp increased 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 purchasing an additional 396,034 shares in the last quarter. RTW Investments LP raised its holdings in Cullinan Therapeutics by 62.1% during the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after purchasing an additional 653,330 shares during the last quarter. Holocene Advisors LP boosted its position in Cullinan Therapeutics by 16.5% during the third quarter. Holocene Advisors LP now owns 1,533,579 shares of the company’s stock worth $25,672,000 after purchasing an additional 217,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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.

Wall Street Analyst Weigh In

Several equities research 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 note on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Finally, UBS Group started coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $30.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Therapeutics currently has an average rating of “Buy” and a consensus price target of $31.67.

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.