Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells 4,000 Shares of Stock

by · The Markets Daily

Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00. Following the transaction, the insider owned 138,004 shares of the company’s stock, valued at approximately $1,697,449.20. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock traded down $1.14 during trading hours on Tuesday, hitting $11.79. The company had a trading volume of 2,696,411 shares, compared to its average volume of 609,894. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.78. The firm has a market capitalization of $696.51 million, a price-to-earnings ratio of -3.56 and a beta of -0.07. The firm’s fifty day moving average is $7.47 and its 200 day moving average is $7.69.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.18. On average, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rafferty Asset Management LLC raised its holdings in Cullinan Therapeutics by 3.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 40,729 shares of the company’s stock worth $242,000 after purchasing an additional 1,503 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 2,523 shares during the period. Rhumbline Advisers raised its stake in shares of Cullinan Therapeutics by 3.9% during the second quarter. Rhumbline Advisers now owns 74,105 shares of the company’s stock worth $558,000 after buying an additional 2,767 shares during the last quarter. Tema Etfs LLC lifted its holdings in Cullinan Therapeutics by 9.0% in the second quarter. Tema Etfs LLC now owns 42,692 shares of the company’s stock valued at $321,000 after buying an additional 3,528 shares during the period. Finally, Brooklyn Investment Group bought a new position in Cullinan Therapeutics in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cullinan Therapeutics in a report on Thursday, November 20th. HC Wainwright upped their price objective on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, October 8th. Zacks Research upgraded Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, BTIG Research boosted their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $27.00.

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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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