Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $607,800.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $142,560.00.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $20.34 on Monday. The stock has a 50 day moving average price of $17.05 and a 200 day moving average price of $15.10. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $21.00. 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 (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). On average, analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently made changes to their positions in CGEM. Caitong International Asset Management Co. Ltd boosted its position in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after purchasing an additional 1,036 shares during the period. Allworth Financial LP purchased a new stake in Cullinan Therapeutics in the second quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new stake in Cullinan Therapeutics in the second quarter valued at approximately $53,000. Seven Fleet Capital Management LP acquired a new position in Cullinan Therapeutics during the fourth quarter worth $31,000. Finally, CWM LLC lifted its stake in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 8th. BTIG Research raised their price target on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Wedbush upped their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

More Cullinan Therapeutics News

Here are the key news stories impacting Cullinan Therapeutics this week:

• Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
• Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
• Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
• Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing

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.