Jennifer Michaelson Sells 3,489 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,489 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now directly owns 104,453 shares in the company, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $15.64, for a total value of $125,120.00.

Cullinan Therapeutics Trading Down 6.3 %

Shares of Cullinan Therapeutics stock opened at $10.77 on Thursday. Cullinan Therapeutics, Inc. has a 12-month low of $8.49 and a 12-month high of $30.19. The company has a market capitalization of $627.12 million, a P/E ratio of -3.79 and a beta of -0.18. The stock has a fifty day simple moving average of $14.48 and a 200 day simple moving average of $16.80.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. On average, analysts predict that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CGEM shares. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, UBS Group began coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics currently has a consensus rating of “Buy” and an average price target of $31.67.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Cullinan Therapeutics by 23.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock worth $20,233,000 after acquiring an additional 231,935 shares during the period. Barclays PLC raised its holdings in shares of Cullinan Therapeutics by 26.0% in the 3rd quarter. Barclays PLC now owns 248,614 shares of the company’s stock valued at $4,161,000 after acquiring an additional 51,300 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Cullinan Therapeutics by 40.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 25,369 shares of the company’s stock valued at $425,000 after buying an additional 7,343 shares in the last quarter. Wellington Management Group LLP grew its position in Cullinan Therapeutics by 47.1% in the third quarter. Wellington Management Group LLP now owns 106,025 shares of the company’s stock worth $1,775,000 after acquiring an additional 33,927 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in Cullinan Therapeutics during the third quarter valued at about $3,111,000. 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.