Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 8,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $17.82, for a total transaction of $142,560.00. Following the sale, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $2,901,880.08. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, May 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.62, for a total value of $116,960.00.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock traded up $0.35 during trading on Tuesday, hitting $18.16. 715,223 shares of the company were exchanged, compared to its average volume of 935,513. The firm has a market capitalization of $1.12 billion, a P/E ratio of -5.40 and a beta of -0.01. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $19.43. The firm’s fifty day moving average price is $15.19 and its 200 day moving average price is $13.62.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. As a group, equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CGEM. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. Finally, BTIG Research reiterated a “buy” rating and set a $38.00 price objective on shares of Cullinan Therapeutics in a report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $31,000. CWM LLC grew its stake in shares of Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Cullinan Therapeutics by 160.6% in the first quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock valued at $58,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after purchasing an additional 3,607 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

About Cullinan Therapeutics

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.