Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $52,106.47 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,601 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total transaction of $52,106.47. Following the completion of the sale, the insider directly owned 176,624 shares of the company’s stock, valued at $2,555,749.28. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, February 25th, Jennifer Michaelson sold 1,780 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.14, for a total transaction of $25,169.20.
• On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $13.99, for a total value of $24,510.48.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.08, for a total value of $165,327.36.
• On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.03, for a total value of $5,004.48.
• On Thursday, January 22nd, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.30, for a total value of $49,200.00.
• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $10.01, for a total value of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $9.67, for a total value of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.90, for a total transaction of $11,840.50.
• 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.

Cullinan Therapeutics Stock Performance

NASDAQ CGEM opened at $15.50 on Friday. The company has a market capitalization of $915.68 million, a PE ratio of -4.68 and a beta of -0.09. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $16.74. The company has a 50-day simple moving average of $11.72 and a 200 day simple moving average of $9.41.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Seven Fleet Capital Management LP purchased a new position in shares of Cullinan Therapeutics in the fourth quarter valued at $31,000. Invesco Ltd. lifted its holdings in Cullinan Therapeutics by 27.4% during the 4th quarter. Invesco Ltd. now owns 130,323 shares of the company’s stock worth $1,349,000 after purchasing an additional 28,011 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in Cullinan Therapeutics by 75.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 22,318 shares of the company’s stock worth $231,000 after purchasing an additional 9,604 shares during the period. Susquehanna Portfolio Strategies LLC grew its holdings in Cullinan Therapeutics by 87.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 233,842 shares of the company’s stock valued at $2,420,000 after buying an additional 109,311 shares in the last quarter. Finally, Elmind Capital LP purchased a new position in Cullinan Therapeutics during the 4th quarter valued at about $3,208,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CGEM shares. Zacks Research downgraded Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. HC Wainwright boosted their target price on Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. New Street Research set a $26.00 price target on Cullinan Therapeutics in a research report on Thursday, November 20th. Citigroup initiated coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They set a “buy” rating and a $33.00 price target for the company. Finally, Guggenheim began coverage on Cullinan Therapeutics in a report on Monday, February 2nd. They issued a “buy” rating and a $30.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cullinan Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $29.33.

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.