Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 4,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.51, for a total transaction of $50,040.00. Following the transaction, the insider now directly owns 95,760 shares of the company’s stock, valued at $1,197,957.60. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, December 18th, Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.41, for a total transaction of $53,547.13.
• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.52, for a total value of $43,682.28.
• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.64, for a total value of $125,120.00.

Cullinan Therapeutics Stock Performance

NASDAQ CGEM opened at $11.56 on Wednesday. The business’s 50 day moving average price is $13.27 and its 200-day moving average price is $15.93. Cullinan Therapeutics, Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $30.19. The company has a market cap of $673.12 million, a P/E ratio of -4.07 and a beta of -0.14.

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. As a group, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds have recently added to or reduced their stakes in CGEM. Deerfield Management Company L.P. Series C lifted its stake in Cullinan Therapeutics by 188.1% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock worth $57,207,000 after purchasing an additional 2,141,706 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Cullinan Therapeutics by 2,416.9% in the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock worth $20,650,000 after buying an additional 1,136,993 shares during the period. Braidwell LP lifted its stake in shares of Cullinan Therapeutics by 567.6% during the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after acquiring an additional 1,000,000 shares during the last quarter. Patient Square Capital LP purchased a new position in Cullinan Therapeutics during the 3rd quarter valued at $13,806,000. Finally, Perceptive Advisors LLC bought a new position in Cullinan Therapeutics in the 2nd quarter valued at $13,079,000. 86.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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