Key Points
- Insider sale: Jennifer Michaelson sold 1,345 shares on Dec. 19 at an average of $10.01 (proceeds $13,463.45), trimming her stake by about 1% to 132,635 shares, and she completed several other sales in mid‑December and late November.
- Market and analyst backdrop: Shares opened at $10.34 (up 6.8%), market cap ~ $610.9M with a 12‑month range of $5.68–$13.33; analysts have a consensus target of $28.29 ("Moderate Buy") and several firms raised price targets after the company beat quarterly EPS estimates (‑$0.77 vs. ‑$0.95).
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 1,345 shares of the business's stock in a transaction on Friday, December 19th. The stock was sold at an average price of $10.01, for a total transaction of $13,463.45. Following the completion of the sale, the insider directly owned 132,635 shares of the company's stock, valued at approximately $1,327,676.35. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Jennifer Michaelson also recently made the following trade(s):
- On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66.
- On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.90, for a total transaction of $11,840.50.
- On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.38, for a total transaction of $26,592.24.
- On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00.
Cullinan Therapeutics Trading Up 6.8%
Shares of Cullinan Therapeutics stock opened at $10.34 on Tuesday. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $13.33. The firm has a market capitalization of $610.89 million, a PE ratio of -3.12 and a beta of -0.11. The firm's 50-day moving average price is $9.40 and its 200 day moving average price is $8.12.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, beating analysts' consensus estimates of ($0.95) by $0.18. On average, sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Cullinan Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the company. Rafferty Asset Management LLC raised its position in shares of Cullinan Therapeutics by 3.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 40,729 shares of the company's stock valued at $242,000 after buying an additional 1,503 shares during the period. Tower Research Capital LLC TRC grew its position in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock worth $62,000 after acquiring an additional 2,523 shares during the period. Rhumbline Advisers increased its stake in Cullinan Therapeutics by 3.9% during the second quarter. Rhumbline Advisers now owns 74,105 shares of the company's stock worth $558,000 after acquiring an additional 2,767 shares during the last quarter. Tema Etfs LLC raised its position in Cullinan Therapeutics by 9.0% in the second quarter. Tema Etfs LLC now owns 42,692 shares of the company's stock valued at $321,000 after purchasing an additional 3,528 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Cullinan Therapeutics in the first quarter valued at $34,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on CGEM shares. Zacks Research raised shares of Cullinan Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cullinan Therapeutics in a research note on Monday, December 8th. Wall Street Zen raised shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, November 22nd. Wedbush boosted their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an "outperform" rating in a report on Tuesday, December 9th. Finally, HC Wainwright upped their price target on Cullinan Therapeutics from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, November 20th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.29.
Check Out Our Latest Stock Report on Cullinan Therapeutics
About Cullinan Therapeutics
(
Get Free Report)
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.
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