Jennifer Michaelson Sells 8,000 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the sale, the insider now directly owns 115,942 shares in the company, valued at $2,097,390.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, July 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $16.33, for a total transaction of $130,640.00.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM opened at $17.82 on Wednesday. The firm’s 50 day moving average price is $17.91 and its 200-day moving average price is $19.27. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19. The company has a market cap of $1.03 billion, a PE ratio of -5.69 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02). On average, analysts forecast that Cullinan Therapeutics, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CGEM has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Therapeutics has an average rating of “Buy” and a consensus price target of $32.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGEM. Ameritas Investment Partners Inc. increased its holdings in Cullinan Therapeutics by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after buying an additional 615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after acquiring an additional 3,758 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 81.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after acquiring an additional 4,042 shares during the period. Arizona State Retirement System purchased a new position in shares of Cullinan Therapeutics during the second quarter valued at approximately $182,000. Finally, Squarepoint Ops LLC bought a new position in Cullinan Therapeutics during the second quarter valued at approximately $186,000. 86.31% of the stock is owned by institutional investors.

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.