Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $142,560.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the company’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 value of $142,560.00. Following the transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 transaction of $116,960.00.

Cullinan Therapeutics Price Performance

CGEM stock traded up $0.35 on Tuesday, reaching $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 PE ratio of -5.40 and a beta of -0.01. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $19.43. The stock’s fifty day moving average price is $15.19 and its 200 day moving average price is $13.62.

Cullinan Therapeutics (NASDAQ:CGEM) last issued 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, research analysts expect that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Cullinan Therapeutics

Several institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cullinan Therapeutics by 1.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock worth $497,000 after purchasing an additional 888 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after buying an additional 1,036 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in Cullinan Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after buying an additional 1,094 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in Cullinan Therapeutics by 2.7% during the 4th quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock worth $489,000 after acquiring an additional 1,255 shares during the last quarter. Finally, CWM LLC grew its holdings in 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 during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.