Jennifer Michaelson Sells 4,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00. Following the completion of the transaction, the insider directly owned 138,004 shares of the company’s stock, valued at approximately $1,697,449.20. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cullinan Therapeutics Price Performance

CGEM stock opened at $11.74 on Thursday. The firm has a fifty day moving average price of $7.70 and a two-hundred day moving average price of $7.75. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $13.78. The firm has a market cap of $693.60 million, a price-to-earnings ratio of -3.55 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. As a group, analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CGEM. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. BTIG Research increased their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday. New Street Research set a $26.00 target price on Cullinan Therapeutics in a research note on Thursday, November 20th. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CGEM. Corton Capital Inc. raised its stake in shares of Cullinan Therapeutics by 41.0% during the first quarter. Corton Capital Inc. now owns 16,842 shares of the company’s stock valued at $127,000 after purchasing an additional 4,898 shares in the last quarter. Vanguard Group Inc. increased its stake in Cullinan Therapeutics by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company’s stock valued at $23,011,000 after buying an additional 103,504 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Cullinan Therapeutics by 282.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,621 shares of the company’s stock worth $588,000 after buying an additional 57,348 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cullinan Therapeutics during the 1st quarter worth about $1,423,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Cullinan Therapeutics in the 1st quarter worth approximately $222,000. Institutional investors 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.