Cullinan Therapeutics (NASDAQ:CGEM) Insider Jeffrey Alan Jones Sells 4,582 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,582 shares of Cullinan Therapeutics stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total transaction of $66,301.54. Following the transaction, the insider directly owned 159,968 shares in the company, valued at approximately $2,314,736.96. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Jeffrey Alan Jones also recently made the following trade(s):

• On Friday, February 20th, Jeffrey Alan Jones sold 4,982 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $13.62, for a total value of $67,854.84.
• On Thursday, December 18th, Jeffrey Alan Jones sold 4,632 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $9.67, for a total value of $44,791.44.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM traded up $0.09 on Wednesday, reaching $14.36. The company’s stock had a trading volume of 858,348 shares, compared to its average volume of 730,212. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $14.56. The business’s 50-day moving average price is $11.41 and its two-hundred day moving average price is $9.27. The firm has a market cap of $848.33 million, a PE ratio of -4.34 and a beta of -0.09.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Cullinan Therapeutics by 27.4% in the fourth quarter. Invesco Ltd. now owns 130,323 shares of the company’s stock valued at $1,349,000 after purchasing an additional 28,011 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in shares of Cullinan Therapeutics by 75.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 22,318 shares of the company’s stock valued at $231,000 after acquiring an additional 9,604 shares in the last quarter. Susquehanna Portfolio Strategies LLC grew its holdings in shares of Cullinan Therapeutics by 87.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 233,842 shares of the company’s stock valued at $2,420,000 after acquiring an additional 109,311 shares in the last quarter. Elmind Capital LP acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $3,208,000. Finally, Engineers Gate Manager LP increased its position in shares of Cullinan Therapeutics by 37.7% in the fourth quarter. Engineers Gate Manager LP now owns 69,343 shares of the company’s stock valued at $718,000 after acquiring an additional 18,980 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a report on Thursday, November 20th. Morgan Stanley reissued an “overweight” rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. Citigroup began coverage on shares of Cullinan Therapeutics in a report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective on the stock. HC Wainwright upped their target price on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Eight 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 has an average rating of “Moderate Buy” and a consensus target price of $29.33.

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.