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 Cullinan Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $14.62, for a total transaction of $116,960.00. Following the completion of the sale, the insider directly owned 166,844 shares in the company, valued at approximately $2,439,259.28. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, March 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.68, for a total transaction of $125,440.00.
• 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 transaction 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 shares were 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 shares were sold at an average price of $12.03, for a total transaction of $5,004.48.

Cullinan Therapeutics Stock Down 1.8%

NASDAQ CGEM opened at $14.72 on Friday. The company’s 50 day moving average is $14.27 and its 200-day moving average is $11.84. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $16.74. The firm has a market cap of $904.54 million, a P/E ratio of -4.39 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.09. Equities analysts expect that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds have recently bought and sold shares of CGEM. Caitong International Asset Management Co. Ltd grew its stake in Cullinan Therapeutics by 62.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after acquiring an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in Cullinan Therapeutics during the fourth quarter valued at approximately $31,000. CWM LLC grew its stake 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 in the last quarter. Signaturefd LLC grew its stake in 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 buying an additional 3,607 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Cullinan Therapeutics in the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a research report on Monday. Zacks Research cut shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. Wedbush boosted their price objective on shares of Cullinan Therapeutics from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Finally, HC Wainwright boosted their price objective on shares of Cullinan Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $29.89.

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.