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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,693 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total value of $53,547.13. Following the completion of the transaction, the insider now owns 99,760 shares in the company, valued at $1,138,261.60. This represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The shares were 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 shares were sold at an average price of $15.64, for a total value of $125,120.00.

Cullinan Therapeutics Stock Up 5.9 %

Shares of CGEM stock opened at $11.60 on Monday. Cullinan Therapeutics, Inc. has a 12 month low of $8.49 and a 12 month high of $30.19. The business’s 50 day moving average is $14.28 and its two-hundred day moving average is $16.64. The company has a market cap of $675.44 million, a PE ratio of -4.08 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.09. As a group, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds have recently modified their holdings of CGEM. Amalgamated Bank boosted its position in shares of Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after acquiring an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after acquiring an additional 3,758 shares during the period. Arizona State Retirement System bought a new position in Cullinan Therapeutics in the second quarter worth $182,000. Squarepoint Ops LLC bought a new position in Cullinan Therapeutics in the second quarter worth $186,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Cullinan Therapeutics by 64.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after purchasing an additional 4,380 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.