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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,489 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.52, for a total transaction of $43,682.28. Following the completion of the transaction, the insider now owns 104,453 shares in the company, valued at approximately $1,307,751.56. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction 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 Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.64, for a total transaction of $125,120.00.

Cullinan Therapeutics Stock Performance

NASDAQ CGEM opened at $11.80 on Tuesday. The stock has a market capitalization of $687.09 million, a P/E ratio of -4.15 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 52 week low of $8.02 and a 52 week high of $30.19. The stock has a fifty day moving average of $14.66 and a 200-day moving average of $16.93.

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

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in Cullinan Therapeutics in the second quarter valued at approximately $1,992,000. Bank of New York Mellon Corp boosted its position in shares of Cullinan Therapeutics by 46.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock worth $2,407,000 after purchasing an additional 43,757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after purchasing an additional 3,758 shares during the period. Rhumbline Advisers increased its holdings in Cullinan Therapeutics by 16.4% in the second quarter. Rhumbline Advisers now owns 54,351 shares of the company’s stock valued at $948,000 after purchasing an additional 7,649 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in Cullinan Therapeutics in the second quarter valued at about $182,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Ratings Changes

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

About Cullinan Therapeutics

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.