Jennifer Michaelson Sells 4,693 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,693 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $11.41, for a total value of $53,547.13. Following the sale, the insider now directly owns 99,760 shares in the company, valued at $1,138,261.60. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.52, for a total value of $43,682.28.
• 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 Stock Performance

Cullinan Therapeutics stock traded up $0.65 during mid-day trading on Friday, hitting $11.60. The company’s stock had a trading volume of 862,713 shares, compared to its average volume of 644,257. The company has a 50 day moving average of $14.28 and a 200-day moving average of $16.68. The stock has a market cap of $675.44 million, a PE ratio of -4.08 and a beta of -0.18. Cullinan Therapeutics, Inc. has a one year low of $8.49 and a one year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.09. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CGEM has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. UBS Group assumed coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.67.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors have recently bought and sold shares of the business. Amalgamated Bank increased its holdings in Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cullinan Therapeutics by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock valued at $1,187,000 after buying an additional 2,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Cullinan Therapeutics by 22.2% during the third quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock valued at $358,000 after buying an additional 3,881 shares during the period. Finally, Profund Advisors LLC increased its holdings in Cullinan Therapeutics by 26.8% during the second quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock valued at $337,000 after buying an additional 4,089 shares during the period. 86.31% of the stock is owned by hedge funds and other 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.