Cullinan Therapeutics, Inc. (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 Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total value of $125,120.00. Following the sale, the insider now owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, September 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $18.09, for a total transaction of $144,720.00.

Cullinan Therapeutics Trading Up 2.8 %

NASDAQ:CGEM opened at $16.02 on Friday. Cullinan Therapeutics, Inc. has a 12-month low of $7.64 and a 12-month high of $30.19. The stock’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $19.13. The firm has a market cap of $928.84 million, a P/E ratio of -5.24 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. Research analysts forecast that Cullinan Therapeutics, Inc. will post -3.2 EPS for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Amalgamated Bank raised its holdings in Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Cullinan Therapeutics by 31.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after purchasing an additional 615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after purchasing an additional 3,758 shares during the period. Arizona State Retirement System purchased a new position in shares of Cullinan Therapeutics during the 2nd quarter worth approximately $182,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $186,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CGEM shares. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. UBS Group initiated coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.67.

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.