Key Points
- Jennifer Michaelson sold 8,000 Cullinan Therapeutics shares at an average price of $21.57, generating $172,560 and reducing her position by 4.79% to 158,844 shares. She also sold 30,000 shares in August and 8,000 in July.
- Cullinan Therapeutics shares opened at $21.00, with a market capitalization of about $1.35 billion and a 52-week range of $5.68 to $23.19. The company slightly missed quarterly earnings expectations, reporting an adjusted loss of $0.81 per share versus the $0.80 consensus estimate.
- Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $32.86; institutional investors own 86.31% of the stock.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total transaction of $172,560.00. Following the sale, the insider directly owned 158,844 shares in the company, valued at $3,426,265.08. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Jennifer Michaelson also recently made the following trade(s):
- On Thursday, August 13th, Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00.
- On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $17.82, for a total transaction of $142,560.00.
Cullinan Therapeutics Stock Performance
Cullinan Therapeutics stock opened at $21.00 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of -6.77 and a beta of 0.02. Cullinan Therapeutics, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $23.19. The firm's fifty day moving average price is $19.40 and its 200-day moving average price is $16.38.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.01). Sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.08 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Cullinan Therapeutics in the second quarter worth about $95,289,000. Affinity Asset Advisors LLC raised its holdings in Cullinan Therapeutics by 632.4% in the fourth 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 in the last quarter. Blue Owl Capital Holdings LP bought a new position in Cullinan Therapeutics in the second quarter worth $28,039,000. Lynx1 Capital Management LP lifted its position in Cullinan Therapeutics by 31.0% during the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company's stock valued at $34,193,000 after buying an additional 1,365,248 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at $12,803,000. 86.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CGEM has been the topic of a number of recent analyst reports. Wedbush raised their target price on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, August 17th. TD Cowen upgraded shares of Cullinan Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.86.
Get Our Latest Stock Analysis on Cullinan Therapeutics
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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