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 company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total transaction of $172,560.00. Following the sale, the insider owned 158,844 shares of the company’s stock, valued at $3,426,265.08. This trade represents a 4.79% decrease in their ownership of the stock. 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 Thursday, August 13th, Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $20.26, for a total value of $607,800.00.
• On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $17.82, for a total value of $142,560.00.

Cullinan Therapeutics Stock Down 2.0%

Shares of NASDAQ:CGEM opened at $20.59 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -6.64 and a beta of 0.02. The business has a 50 day moving average price of $19.46 and a 200 day moving average price of $16.41. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Analysts anticipate that Cullinan Therapeutics, Inc. will post -3.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cullinan Therapeutics by 1.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock valued at $497,000 after buying an additional 888 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after acquiring an additional 1,036 shares during the period. AlphaCentric Advisors LLC boosted its position in shares of Cullinan Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock valued at $286,000 after acquiring an additional 1,094 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Cullinan Therapeutics by 2.7% during the 4th quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock valued at $489,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Cullinan Therapeutics in the second quarter valued at about $25,000. 86.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CGEM. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Wedbush boosted their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. BTIG Research increased their target price on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.86.

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.