Jennifer Michaelson Sells 1,780 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 1,780 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $14.14, for a total value of $25,169.20. Following the completion of the sale, the insider directly owned 174,844 shares in the company, valued at approximately $2,472,294.16. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, February 24th, Jennifer Michaelson sold 3,601 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.47, for a total value of $52,106.47.
• On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $13.99, for a total value of $24,510.48.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.08, for a total transaction of $165,327.36.
• On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.03, for a total transaction of $5,004.48.
• On Thursday, January 22nd, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00.
• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $10.01, for a total value of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $9.67, for a total value of $28,023.66.
• 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 value of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total value of $26,592.24.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $15.50 on Friday. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $16.74. The stock has a fifty day moving average price of $11.72 and a 200 day moving average price of $9.41. The stock has a market cap of $915.68 million, a P/E ratio of -4.68 and a beta of -0.09.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CGEM. Seven Fleet Capital Management LP bought a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $31,000. Invesco Ltd. lifted its position in Cullinan Therapeutics by 27.4% during the 4th quarter. Invesco Ltd. now owns 130,323 shares of the company’s stock worth $1,349,000 after buying an additional 28,011 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in Cullinan Therapeutics by 75.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 22,318 shares of the company’s stock worth $231,000 after acquiring an additional 9,604 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its position in Cullinan Therapeutics by 87.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 233,842 shares of the company’s stock valued at $2,420,000 after acquiring an additional 109,311 shares in the last quarter. Finally, Elmind Capital LP acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at about $3,208,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CGEM shares. Zacks Research cut shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Citigroup began coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They issued a “buy” rating and a $33.00 price objective on the stock. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. Finally, Wedbush boosted their target price 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. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cullinan Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $29.33.

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.