Key Points
- Insider sale: On May 5 Jennifer Michaelson sold 8,000 shares at an average price of $14.62 for $116,960, reducing her holdings to 166,844 shares (a 4.58% decrease) valued at about $2.44 million.
- Repeated selling: Michaelson has sold a total of 35,291 shares in multiple transactions since February 12, including two recent 8,000-share sales, signaling sustained insider disposition.
- Stock context: Cullinan (NASDAQ:CGEM) trades near $14.99 with 50-/200-day SMAs of $14.26/$11.79, a market cap of roughly $921 million, and a consensus analyst rating of Moderate Buy with a $29.89 target.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00. Following the completion of the sale, the insider directly owned 166,844 shares in the company, valued at approximately $2,439,259.28. This represents a 4.58% decrease in their ownership of the stock. 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 Thursday, March 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.68, for a total transaction of $125,440.00.
- On Wednesday, February 25th, Jennifer Michaelson sold 1,780 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.14, for a total transaction of $25,169.20.
- On Tuesday, February 24th, Jennifer Michaelson sold 3,601 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.47, for a total transaction of $52,106.47.
- On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $13.99, for a total transaction of $24,510.48.
- On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.08, for a total transaction of $165,327.36.
- On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.03, for a total transaction of $5,004.48.
Cullinan Therapeutics Stock Performance
Shares of NASDAQ:CGEM opened at $14.99 on Thursday. The company has a 50-day simple moving average of $14.26 and a 200-day simple moving average of $11.79. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $16.74. The stock has a market capitalization of $921.14 million, a price-to-earnings ratio of -4.47 and a beta of -0.09.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.05. As a group, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.
Institutional Trading of Cullinan Therapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock valued at $28,000 after acquiring an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $31,000. CWM LLC lifted its stake in shares of Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock valued at $40,000 after purchasing an additional 1,318 shares during the period. Signaturefd LLC lifted its stake in shares of Cullinan Therapeutics by 689.7% in 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. Finally, SG Americas Securities LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at about $62,000. Hedge funds and other institutional investors own 86.31% of the company's stock.
Analyst Upgrades and Downgrades
CGEM has been the topic of a number of research reports. Morgan Stanley reissued an "overweight" rating and set a $30.00 price target on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Wall Street Zen lowered Cullinan Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, February 8th. BTIG Research reissued a "buy" rating and set a $38.00 price target on shares of Cullinan Therapeutics in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Friday, April 10th. Finally, HC Wainwright lifted their target price on shares of Cullinan Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cullinan Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $29.89.
Read Our Latest Research Report on CGEM
Cullinan Therapeutics Company Profile
(
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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