Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 2,148 Shares of Stock

by · The Cerbat Gem

Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) insider Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24. Following the completion of the sale, the insider owned 137,873 shares in the company, valued at approximately $1,706,867.74. This trade represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • 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 Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total value of $49,200.00.

Cullinan Therapeutics Trading Down 5.5%

NASDAQ:CGEM traded down $0.60 during trading hours on Tuesday, hitting $10.22. 1,140,331 shares of the stock were exchanged, compared to its average volume of 646,330. The firm’s fifty day moving average price is $9.09 and its 200 day moving average price is $8.08. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $13.33. The company has a market cap of $603.76 million, a P/E ratio of -3.09 and a beta of -0.11.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. Equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently made changes to their positions in CGEM. Lynx1 Capital Management LP raised its position in shares of Cullinan Therapeutics by 31.0% during the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after buying an additional 1,365,248 shares during the period. Vanguard Group Inc. grew its position in Cullinan Therapeutics by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company’s stock worth $23,011,000 after acquiring an additional 103,504 shares during the period. Blue Owl Capital Holdings LP increased its stake in Cullinan Therapeutics by 5.2% during the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock worth $14,890,000 after acquiring an additional 125,000 shares during the last quarter. Franklin Resources Inc. raised its position in Cullinan Therapeutics by 0.4% in the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock valued at $16,778,000 after purchasing an additional 8,399 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Cullinan Therapeutics by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,279,496 shares of the company’s stock valued at $9,636,000 after purchasing an additional 37,679 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

CGEM has been the subject of a number of research reports. HC Wainwright upped their target price on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. BTIG Research upped their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Morgan Stanley decreased their target price on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. New Street Research set a $26.00 target price on Cullinan Therapeutics in a report on Thursday, November 20th. Finally, Wedbush increased their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.29.

Read Our Latest Stock Analysis on CGEM

Cullinan Therapeutics Company Profile

(Get Free Report)

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.

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