Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $142,560.00 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $17.82, for a total transaction of $142,560.00. Following the completion of the transaction, the insider owned 162,844 shares of the company’s stock, valued at $2,901,880.08. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, May 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00.

Cullinan Therapeutics Trading Down 0.3%

Shares of CGEM stock opened at $18.38 on Friday. The firm’s 50 day moving average is $15.50 and its 200 day moving average is $13.80. The stock has a market capitalization of $1.13 billion, a P/E ratio of -5.47 and a beta of -0.01. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $19.43.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. On average, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research note on Monday, June 8th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. BTIG Research reiterated a “buy” rating and set a $38.00 price target on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Six 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after purchasing an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in Cullinan Therapeutics in the 4th quarter worth approximately $31,000. CWM LLC increased its holdings in shares of Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Cullinan Therapeutics by 160.6% in the 1st quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after buying an additional 2,492 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Cullinan Therapeutics by 689.7% during the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after buying an additional 3,607 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.