Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $172,560.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total transaction of $172,560.00. Following the completion of the transaction, the insider owned 158,844 shares of the company’s stock, valued at $3,426,265.08. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, August 13th, Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00.
• On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $17.82, for a total value of $142,560.00.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $20.59 on Friday. The firm has a market capitalization of $1.33 billion, a P/E ratio of -6.64 and a beta of 0.02. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $23.19. The business has a fifty day moving average price of $19.46 and a 200-day moving average price of $16.41.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). Sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CGEM shares. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. BTIG Research raised their price target on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, August 17th. Finally, Wedbush increased their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.86.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of large investors have recently added to or reduced their stakes in CGEM. Integrated Wealth Concepts LLC purchased a new position in shares of Cullinan Therapeutics in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 valued at $28,000 after buying an additional 1,036 shares in the last quarter. Allworth Financial LP bought a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $53,000. Quantbot Technologies LP bought a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $53,000. Finally, Seven Fleet Capital Management LP bought a new stake in Cullinan Therapeutics in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for cancer and other serious diseases. The company’s approach combines internally developed drug candidates with licensed or acquired programs and partnerships intended to address areas of significant unmet medical need.

Its pipeline has included zipalertinib, an oral tyrosine kinase inhibitor being developed for patients with non-small cell lung cancer whose tumors have EGFR exon 20 insertion mutations.