Jennifer Michaelson Sells 8,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.68, for a total transaction of $125,440.00. Following the completion of the transaction, the insider owned 170,844 shares in the company, valued at $2,678,833.92. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 25th, Jennifer Michaelson sold 1,780 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.14, for a total value of $25,169.20.
• On Tuesday, February 24th, Jennifer Michaelson sold 3,601 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.47, for a total transaction of $52,106.47.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were 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 stock was sold at an average price of $12.38, for a total value of $26,592.24.

Cullinan Therapeutics Price Performance

Shares of CGEM stock traded down $0.43 during trading hours on Monday, reaching $15.31. 864,731 shares of the stock were exchanged, compared to its average volume of 767,066. The business’s fifty day moving average is $12.28 and its two-hundred day moving average is $9.72. The firm has a market capitalization of $904.45 million, a P/E ratio of -4.63 and a beta of -0.15. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $16.74.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 target price on the stock. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Morgan Stanley reissued an “overweight” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Citigroup initiated coverage on Cullinan Therapeutics in a research report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective for the company. Finally, BTIG Research boosted their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.33.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Cullinan Therapeutics in the 4th quarter worth $31,000. CWM LLC grew its position in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after acquiring an additional 1,318 shares during the period. Signaturefd LLC raised its holdings in shares of Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after purchasing an additional 3,607 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after purchasing an additional 2,523 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.