Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $130,640.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $16.33, for a total value of $130,640.00. Following the completion of the transaction, the insider now owns 123,942 shares of the company’s stock, valued at $2,023,972.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 6th, Jennifer Michaelson sold 58,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $28.07, for a total value of $1,628,060.00.

Cullinan Therapeutics Trading Up 0.9 %

CGEM opened at $16.18 on Friday. The business’s 50 day moving average is $21.36 and its 200-day moving average is $17.90. The stock has a market cap of $932.52 million, a PE ratio of -5.17 and a beta of -0.12. Cullinan Therapeutics, Inc. has a twelve month low of $7.64 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CGEM. HC Wainwright restated a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, May 16th. BTIG Research lifted their target price on Cullinan Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. William Blair restated an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Finally, Jonestrading lifted their target price on Cullinan Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Therapeutics has a consensus rating of “Buy” and an average price target of $32.00.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Cullinan Therapeutics by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after purchasing an additional 390,505 shares during the period. Parkman Healthcare Partners LLC lifted its position in Cullinan Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock worth $5,399,000 after purchasing an additional 91,132 shares during the period. Affinity Asset Advisors LLC acquired a new stake in Cullinan Therapeutics in the fourth quarter worth approximately $3,057,000. Swiss National Bank lifted its position in Cullinan Therapeutics by 19.9% in the fourth quarter. Swiss National Bank now owns 46,300 shares of the company’s stock worth $472,000 after purchasing an additional 7,700 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Cullinan Therapeutics in the fourth quarter worth approximately $356,000. 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.