Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 8,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the sale, the insider now owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, September 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00.

Cullinan Therapeutics Stock Down 5.5 %

Shares of NASDAQ:CGEM opened at $15.58 on Friday. The stock has a market cap of $903.33 million, a price-to-earnings ratio of -5.09 and a beta of -0.12. The business’s 50 day moving average is $16.90 and its 200 day moving average is $19.11. Cullinan Therapeutics, Inc. has a 12-month low of $7.64 and a 12-month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02). As a group, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, UBS Group initiated coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.67.

Institutional Investors Weigh In On Cullinan Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in shares of Cullinan Therapeutics by 900.7% during the 3rd quarter. Quest Partners LLC now owns 20,404 shares of the company’s stock worth $342,000 after buying an additional 18,365 shares in the last quarter. Amalgamated Bank lifted its holdings in Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after acquiring an additional 872 shares during the period. Harbor Capital Advisors Inc. grew its stake in Cullinan Therapeutics by 22.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock valued at $358,000 after purchasing an additional 3,881 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after purchasing an additional 4,380 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cullinan Therapeutics by 18.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 135,036 shares of the company’s stock worth $2,261,000 after purchasing an additional 20,841 shares during the period. 86.31% of the stock is owned by institutional investors.

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.