Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) CFO Sells 4,398 Shares of Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CFO Mary Kay Fenton sold 4,398 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $13.62, for a total transaction of $59,900.76. Following the transaction, the chief financial officer owned 126,380 shares in the company, valued at approximately $1,721,295.60. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cullinan Therapeutics Price Performance

CGEM traded up $0.34 during trading on Monday, reaching $13.99. 627,420 shares of the stock traded hands, compared to its average volume of 719,629. The stock has a market cap of $826.53 million, a price-to-earnings ratio of -4.23 and a beta of -0.09. Cullinan Therapeutics, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $14.51. The stock’s 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $9.17.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cullinan Therapeutics during the 1st quarter worth about $163,000. Jane Street Group LLC grew its holdings in Cullinan Therapeutics by 145.9% in the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after buying an additional 109,413 shares during the last quarter. Acadian Asset Management LLC bought a new position in Cullinan Therapeutics in the 1st quarter worth approximately $618,000. Y Intercept Hong Kong Ltd bought a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $84,000. Finally, Corton Capital Inc. lifted its holdings in shares of Cullinan Therapeutics by 28.9% during the second quarter. Corton Capital Inc. now owns 21,712 shares of the company’s stock worth $163,000 after buying an additional 4,870 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CGEM shares. Citigroup started coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They issued a “buy” rating and a $33.00 price target for the company. Zacks Research downgraded shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Wedbush lifted their price objective on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, BTIG Research upped their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.33.

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.