Jennifer Michaelson Sells 8,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the sale, the insider owned 162,844 shares in the company, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jennifer Michaelson also recently made the following trade(s):

• On Tuesday, May 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00.

Cullinan Therapeutics Trading Up 1.5%

NASDAQ CGEM opened at $18.43 on Thursday. The company’s 50-day moving average price is $15.39 and its 200-day moving average price is $13.74. The stock has a market cap of $1.13 billion, a PE ratio of -5.49 and a beta of -0.01. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $19.43.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current year.

Analyst Ratings Changes

CGEM has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, April 10th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Wedbush reissued an “outperform” rating and set a $37.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th. Six investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cullinan Therapeutics by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock valued at $497,000 after purchasing an additional 888 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Cullinan Therapeutics by 62.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the last quarter. AlphaCentric Advisors LLC boosted its holdings in shares of Cullinan Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock valued at $286,000 after buying an additional 1,094 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Cullinan Therapeutics by 2.7% in the 4th quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock valued at $489,000 after buying an additional 1,255 shares in the last quarter. Finally, CWM LLC grew its position in shares of Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares during the last quarter. 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.