Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells 4,000 Shares of Company Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $12.36, for a total transaction of $49,440.00. Following the transaction, the insider directly owned 158,649 shares in the company, valued at $1,960,901.64. The trade was a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, September 8th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $21.57, for a total value of $172,560.00.
• On Thursday, August 13th, Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $20.26, for a total value of $607,800.00.

Cullinan Therapeutics Trading Up 4.7%

Cullinan Therapeutics stock traded up $0.51 during midday trading on Friday, hitting $11.31. The stock had a trading volume of 755,506 shares, compared to its average volume of 900,053. The stock has a market cap of $727.86 million, a P/E ratio of -3.65 and a beta of -0.03. Cullinan Therapeutics, Inc. has a 12 month low of $6.73 and a 12 month high of $23.19. The business has a fifty day moving average price of $17.20 and a 200 day moving average price of $15.83.

Cullinan Therapeutics (NASDAQ:CGEM) last announced 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 analysts anticipate that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Cullinan Therapeutics in the 2nd quarter valued at about $95,289,000. Blue Owl Capital Holdings LP acquired a new position in Cullinan Therapeutics during the 2nd quarter valued at about $28,039,000. Dimensional Fund Advisors LP boosted its stake in Cullinan Therapeutics by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock valued at $12,870,000 after purchasing an additional 57,259 shares during the period. Fisher Asset Management LLC boosted its stake in Cullinan Therapeutics by 2,125.0% during the 3rd quarter. Fisher Asset Management LLC now owns 800,961 shares of the company’s stock valued at $12,295,000 after purchasing an additional 764,963 shares during the period. Finally, Boone Capital Management LLC bought a new position in Cullinan Therapeutics in the 2nd quarter worth about $12,828,000. Institutional investors own 86.31% of the company’s stock.

Analysts Set New Price Targets

CGEM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd. TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Wedbush lifted their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Finally, BTIG Research boosted their target price on shares of Cullinan Therapeutics from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.

Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.