Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 30,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. This trade represents a 15.56% 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 Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $17.82, for a total value of $142,560.00.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $20.34 on Friday. The stock’s 50 day moving average price is $17.05 and its 200 day moving average price is $15.07. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $21.00. The company has a market cap of $1.31 billion, a PE ratio of -6.56 and a beta of 0.01.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). On average, equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Key Headlines Impacting Cullinan Therapeutics

Here are the key news stories impacting Cullinan Therapeutics this week:

• Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
• Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
• Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
• Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing

Institutional Investors Weigh In On Cullinan Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Cullinan Therapeutics during the 2nd quarter valued at about $95,289,000. Affinity Asset Advisors LLC lifted its holdings in shares of Cullinan Therapeutics by 632.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after purchasing an additional 1,668,289 shares in the last quarter. Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Therapeutics in the second quarter valued at approximately $28,039,000. Lynx1 Capital Management LP grew its position in shares of Cullinan Therapeutics by 31.0% in the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $12,803,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CGEM. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Wedbush boosted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, BTIG Research upped their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

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.