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 Cullinan Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $12.51, for a total value of $50,040.00. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $15.64, for a total transaction of $125,120.00.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock traded down $0.22 during trading hours on Tuesday, reaching $11.56. The company had a trading volume of 385,276 shares, compared to its average volume of 372,219. The stock’s fifty day simple moving average is $13.38 and its 200 day simple moving average is $15.97. The company has a market capitalization of $673.12 million, a P/E ratio of -4.07 and a beta of -0.14. Cullinan Therapeutics, Inc. has a twelve month low of $10.00 and a twelve month high of $30.19.

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

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Cullinan Therapeutics by 46.4% in the second quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock valued at $2,407,000 after purchasing an additional 43,757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cullinan Therapeutics by 73.3% during the 2nd 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. Rhumbline Advisers grew its position in shares of Cullinan Therapeutics by 16.4% during the second quarter. Rhumbline Advisers now owns 54,351 shares of the company’s stock worth $948,000 after buying an additional 7,649 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Cullinan Therapeutics in the second quarter worth $182,000. Finally, American Century Companies Inc. raised its holdings in Cullinan Therapeutics by 32.9% in the second quarter. American Century Companies Inc. now owns 76,018 shares of the company’s stock valued at $1,326,000 after acquiring an additional 18,840 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group initiated coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Buy” and an average 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.