Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $11,840.50 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 995 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.90, for a total transaction of $11,840.50. Following the completion of the sale, the insider owned 136,878 shares in the company, valued at $1,628,848.20. The trade was a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24.
• On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00.

Cullinan Therapeutics Trading Down 5.5%

CGEM traded down $0.60 during midday trading on Tuesday, hitting $10.22. 1,140,331 shares of the company were exchanged, compared to its average volume of 646,330. The company’s 50 day simple moving average is $9.09 and its 200 day simple moving average is $8.08. The firm has a market capitalization of $603.76 million, a price-to-earnings ratio of -3.09 and a beta of -0.11. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $13.33.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. On average, equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Institutional Investors Weigh In On Cullinan Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Cullinan Therapeutics in the 1st quarter worth $34,000. SG Americas Securities LLC purchased a new position in Cullinan Therapeutics during the third quarter valued at $62,000. Tower Research Capital LLC TRC grew its position in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares during the period. Inscription Capital LLC purchased a new stake in shares of Cullinan Therapeutics during the third quarter worth about $67,000. Finally, Compass Ion Advisors LLC purchased a new stake in shares of Cullinan Therapeutics during the third quarter worth about $82,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CGEM. BTIG Research upped their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. HC Wainwright boosted their target price on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Monday, December 8th. Finally, Zacks Research upgraded shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $28.29.

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.