Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $43,682.28 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,489 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.52, for a total value of $43,682.28. Following the sale, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. This represents a 3.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00.

Cullinan Therapeutics Stock Performance

CGEM opened at $10.77 on Thursday. Cullinan Therapeutics, Inc. has a one year low of $8.49 and a one year high of $30.19. The company has a market cap of $627.12 million, a price-to-earnings ratio of -3.79 and a beta of -0.18. The business’s fifty day moving average is $14.48 and its two-hundred day moving average is $16.80.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.09. On average, analysts predict that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C lifted its position in Cullinan Therapeutics by 188.1% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock valued at $57,207,000 after purchasing an additional 2,141,706 shares during the last quarter. State Street Corp raised its holdings in shares of Cullinan Therapeutics by 20.4% during the third quarter. State Street Corp now owns 2,337,222 shares of the company’s stock valued at $39,125,000 after acquiring an additional 396,034 shares during the period. RTW Investments LP lifted its stake in Cullinan Therapeutics by 62.1% in the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after acquiring an additional 653,330 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Cullinan Therapeutics by 16.5% during the 3rd quarter. Holocene Advisors LP now owns 1,533,579 shares of the company’s stock worth $25,672,000 after purchasing an additional 217,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock worth $20,233,000 after acquiring an additional 231,935 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group assumed coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $31.67.

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.