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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $11.41, for a total transaction of $53,547.13. Following the transaction, the insider now owns 99,760 shares of the company’s stock, valued at approximately $1,138,261.60. The trade was a 4.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 value of $125,120.00.

Cullinan Therapeutics Stock Up 5.9 %

NASDAQ CGEM opened at $11.60 on Friday. Cullinan Therapeutics, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $30.19. The business has a 50 day moving average price of $14.28 and a two-hundred day moving average price of $16.68. The stock has a market cap of $675.44 million, a PE ratio of -4.08 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.09. Sell-side analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group began coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics presently has an average rating of “Buy” and a consensus target price of $31.67.

Institutional Trading of Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank grew its stake in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after purchasing an additional 872 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cullinan Therapeutics by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after buying an additional 2,377 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 acquiring an additional 3,758 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cullinan Therapeutics by 22.2% in the third quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock worth $358,000 after purchasing an additional 3,881 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in Cullinan Therapeutics by 26.8% during the 2nd quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock worth $337,000 after buying an additional 4,089 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

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.