Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $50,040.00 in Stock

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 stock was sold at an average price of $12.51, for a total value of $50,040.00. Following the completion of the sale, the insider now directly owns 95,760 shares of the company’s stock, valued at approximately $1,197,957.60. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Cullinan Therapeutics Stock Performance

CGEM opened at $11.13 on Friday. The company has a market cap of $648.08 million, a PE ratio of -3.92 and a beta of -0.14. The stock has a 50-day moving average of $13.08 and a 200-day moving average of $15.87. Cullinan Therapeutics, Inc. has a 52-week low of $10.00 and a 52-week high of $30.19.

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

Wall Street Analysts Forecast Growth

CGEM has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group assumed coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics has an average rating of “Buy” and an average target price of $31.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C grew its position in shares of 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 valued at $57,207,000 after purchasing an additional 2,141,706 shares during the last quarter. Marshall Wace LLP boosted its stake in Cullinan Therapeutics by 2,416.9% during the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after purchasing an additional 1,136,993 shares during the period. Braidwell LP grew its holdings in Cullinan Therapeutics by 567.6% in the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock valued at $19,689,000 after buying an additional 1,000,000 shares during the last quarter. Patient Square Capital LP acquired a new position in shares of Cullinan Therapeutics during the third quarter worth approximately $13,806,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Cullinan Therapeutics in the second quarter valued at approximately $13,079,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.