Jennifer Michaelson Sells 3,489 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.52, for a total transaction 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. The trade was a 3.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Trading Down 2.6 %

CGEM opened at $11.49 on Wednesday. Cullinan Therapeutics, Inc. has a 12 month low of $8.02 and a 12 month high of $30.19. The stock has a fifty day moving average price of $14.57 and a 200-day moving average price of $16.84. The firm has a market cap of $669.04 million, a price-to-earnings ratio of -4.05 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.09. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C lifted its holdings in shares of Cullinan Therapeutics by 188.1% during 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 increased its position in Cullinan Therapeutics by 20.4% during the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company’s stock valued at $39,125,000 after buying an additional 396,034 shares in the last quarter. RTW Investments LP raised its stake in Cullinan Therapeutics by 62.1% in the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock valued at $28,558,000 after buying an additional 653,330 shares during the last quarter. Holocene Advisors LP boosted its holdings in Cullinan Therapeutics by 16.5% in the third quarter. Holocene Advisors LP now owns 1,533,579 shares of the company’s stock worth $25,672,000 after acquiring an additional 217,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Cullinan Therapeutics by 23.8% during 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 during the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CGEM has been the topic of several research analyst reports. UBS Group assumed coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus 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.