Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 8,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $15.68, for a total value of $125,440.00. Following the transaction, the insider directly owned 170,844 shares of the company’s stock, valued at approximately $2,678,833.92. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, February 25th, Jennifer Michaelson sold 1,780 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.14, for a total value of $25,169.20.
• On Tuesday, February 24th, Jennifer Michaelson sold 3,601 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.47, for a total value of $52,106.47.
• On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $13.99, for a total value of $24,510.48.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.08, for a total value of $165,327.36.
• On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.03, for a total value of $5,004.48.
• On Thursday, January 22nd, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00.
• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $10.01, for a total transaction of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.90, for a total transaction of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24.

Cullinan Therapeutics Trading Down 2.7%

CGEM stock opened at $15.31 on Tuesday. The company’s 50-day moving average price is $12.38 and its 200 day moving average price is $9.78. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $16.74. The company has a market cap of $904.51 million, a P/E ratio of -4.63 and a beta of -0.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CGEM shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a report on Thursday, November 20th. Wedbush boosted their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Citigroup started coverage on Cullinan Therapeutics in a report on Tuesday, February 17th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.33.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after acquiring an additional 1,036 shares during the period. Seven Fleet Capital Management LP acquired a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $31,000. CWM LLC boosted its holdings in shares of Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the last quarter. Signaturefd LLC grew its position in shares of Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after purchasing an additional 3,607 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares during the period. Hedge funds and other institutional investors 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.