Jennifer Michaelson Sells 2,898 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66. Following the completion of the sale, the insider owned 133,980 shares of the company’s stock, valued at $1,295,586.60. This trade represents a 2.12% decrease in their position. The transaction 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, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.90, for a total value of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total value of $26,592.24.
• On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total value of $49,200.00.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $9.68 on Friday. The stock has a market capitalization of $571.89 million, a price-to-earnings ratio of -2.92 and a beta of -0.10. The business has a 50-day moving average of $9.35 and a 200 day moving average of $8.11. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.33.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.18. Equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Trading of Cullinan Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics during the 1st quarter worth about $34,000. Tower Research Capital LLC TRC lifted its stake in Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after purchasing an additional 2,523 shares during the last quarter. SG Americas Securities LLC acquired a new position in Cullinan Therapeutics in the third quarter valued at approximately $62,000. Y Intercept Hong Kong Ltd acquired a new position in Cullinan Therapeutics in the second quarter valued at approximately $84,000. Finally, Inscription Capital LLC purchased a new position in Cullinan Therapeutics in the third quarter valued at approximately $67,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wedbush upped their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. HC Wainwright upped their price target on Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. BTIG Research boosted their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, Zacks Research upgraded shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $28.29.

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.