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 company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were 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 Price Performance

Shares of CGEM opened at $11.13 on Thursday. The company’s fifty day moving average price is $13.17 and its 200-day moving average price is $15.90. Cullinan Therapeutics, Inc. has a 1-year low of $10.00 and a 1-year high of $30.19. The firm has a market capitalization of $648.08 million, a PE ratio of -3.92 and a beta of -0.14.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly 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. As a group, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CGEM has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, UBS Group started coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Buy” and an average target price of $31.67.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. RTW Investments LP boosted its holdings in shares of Cullinan Therapeutics by 62.1% in 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 during the last quarter. Marshall Wace LLP lifted its position in Cullinan Therapeutics by 2,416.9% during the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after purchasing an additional 1,136,993 shares during the period. Braidwell LP boosted its holdings in Cullinan Therapeutics by 567.6% in the third quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock valued at $19,689,000 after purchasing an additional 1,000,000 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in Cullinan Therapeutics during the 2nd quarter worth about $1,305,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cullinan Therapeutics by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock valued at $7,097,000 after buying an additional 53,328 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.