Key Points
- Insider sale: Jennifer Michaelson sold 4,000 shares on January 22 at $12.30 for $49,200, leaving her with 128,635 shares and reducing her ownership by 3.02%.
- Ongoing selling pattern: Michaelson has sold roughly 15,386 shares since late November across multiple transactions, totaling about $178,320, indicating sustained insider selling activity.
- Stock and analyst snapshot: CGEM trades near $12.50 with a $738.5M market cap, a consensus "Moderate Buy" and average price target of $28.71, despite negative projected EPS for the year.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00. Following the completion of the sale, the insider directly owned 128,635 shares of the company's stock, valued at $1,582,210.50. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Jennifer Michaelson also recently made the following trade(s):
- On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $10.01, for a total transaction of $13,463.45.
- On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The stock was 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 stock was 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 shares were 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 Stock Performance
Shares of CGEM stock opened at $12.50 on Friday. The stock has a fifty day simple moving average of $10.71 and a two-hundred day simple moving average of $8.55. The firm has a market capitalization of $738.50 million, a PE ratio of -3.78 and a beta of -0.09. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $13.33.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.18. On average, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Cullinan Therapeutics
Several institutional investors have recently bought and sold shares of CGEM. Rafferty Asset Management LLC grew its stake in shares of Cullinan Therapeutics by 3.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 40,729 shares of the company's stock worth $242,000 after buying an additional 1,503 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Cullinan Therapeutics by 44.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after acquiring an additional 2,523 shares during the last quarter. Rhumbline Advisers grew its position in Cullinan Therapeutics by 3.9% in 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 in the last quarter. Tema Etfs LLC increased its stake in Cullinan Therapeutics by 9.0% during the second quarter. Tema Etfs LLC now owns 42,692 shares of the company's stock worth $321,000 after acquiring an additional 3,528 shares during the last quarter. Finally, Signaturefd LLC raised its position in Cullinan Therapeutics by 689.7% during the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company's stock valued at $43,000 after purchasing an additional 3,607 shares during the period. Institutional investors own 86.31% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on CGEM. Zacks Research upgraded shares of Cullinan Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Wedbush raised their target price on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the company an "outperform" rating in a research note on Tuesday, December 9th. HC Wainwright lifted their price target on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, January 8th. Morgan Stanley reissued an "overweight" rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.71.
View Our Latest Stock Analysis 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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