Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at $3,299,219.44. The trade was a 15.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Jennifer Michaelson also recently made the following trade(s):
- On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $17.82, for a total transaction of $142,560.00.
Cullinan Therapeutics Trading Up 3.6%
Shares of Cullinan Therapeutics stock traded up $0.70 during mid-day trading on Friday, hitting $20.34. 565,810 shares of the stock were exchanged, compared to its average volume of 876,374. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.56 and a beta of 0.01. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $21.00. The company has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $15.04.
Hedge Funds Weigh In On Cullinan Therapeutics
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $95,289,000. Affinity Asset Advisors LLC raised its position in shares of Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after buying an additional 1,668,289 shares during the period. Blue Owl Capital Holdings LP purchased a new position in shares of Cullinan Therapeutics in the 2nd quarter worth $28,039,000. Lynx1 Capital Management LP raised its position in shares of Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after buying an additional 1,365,248 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in Cullinan Therapeutics in the fourth quarter valued at $12,803,000. Institutional investors and hedge funds own 86.31% of the company’s stock.
Analyst Upgrades and Downgrades
CGEM has been the topic of a number of recent analyst reports. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Wedbush upped their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research increased their target price on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, June 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.86.
Check Out Our Latest Analysis on Cullinan Therapeutics
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.
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