Key Points
- Insider sale: Cullinan Therapeutics insider Jennifer Michaelson sold 8,000 shares on July 6 at an average price of $17.82, totaling $142,560. After the transaction, she still held 162,844 shares.
- Stock and earnings context: CGEM opened at $18.16 and has traded between $5.68 and $19.43 over the past year. The company recently reported a smaller-than-expected quarterly loss of $0.75 per share, beating analysts’ estimate of $0.84.
- Wall Street view: Analysts remain broadly positive, with six Buy ratings, one Hold, and one Sell. The stock carries a consensus rating of Moderate Buy and an average price target of $32.00.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $17.82, for a total value of $142,560.00. Following the sale, the insider owned 162,844 shares in the company, valued at $2,901,880.08. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Jennifer Michaelson also recently made the following trade(s):
- On Tuesday, May 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00.
Cullinan Therapeutics Stock Performance
Shares of NASDAQ:CGEM opened at $18.16 on Wednesday. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $19.43. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.40 and a beta of -0.01. The company has a 50-day simple moving average of $15.29 and a 200-day simple moving average of $13.68.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts' consensus estimates of ($0.84) by $0.09. 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
A number of hedge funds have recently bought and sold shares of the company. Affinity Asset Advisors LLC lifted its stake in shares of Cullinan Therapeutics by 632.4% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company's stock worth $19,997,000 after purchasing an additional 1,668,289 shares during the period. Lynx1 Capital Management LP boosted its holdings in shares of Cullinan Therapeutics by 31.0% during the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company's stock worth $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at $12,803,000. State Street Corp increased its stake in Cullinan Therapeutics by 31.0% in the fourth quarter. State Street Corp now owns 2,197,338 shares of the company's stock valued at $22,742,000 after purchasing an additional 520,024 shares during the last quarter. Finally, Caption Management LLC increased its stake in Cullinan Therapeutics by 107.0% in the third quarter. Caption Management LLC now owns 28,389 shares of the company's stock valued at $168,000 after purchasing an additional 435,062 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CGEM. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research note on Monday, June 8th. Wedbush reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. BTIG Research reaffirmed a "buy" rating and set a $38.00 price objective on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.00.
Read 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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