Key Points
- Insider Jennifer Michaelson sold 4,000 Cullinan Therapeutics shares on November 5 at an average price of $12.36, for $49,440. She retained 158,649 shares after the sale, a 2.46% reduction in her holdings.
- Cullinan shares traded at $11.31 on Friday, while the company reported a quarterly loss of $0.81 per share, slightly worse than analysts’ $0.80 loss estimate.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $33.86; ratings range from Strong Buy to Sell.
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, November 5th. The shares were sold at an average price of $12.36, for a total value of $49,440.00. Following the transaction, the insider owned 158,649 shares of the company's stock, valued at approximately $1,960,901.64. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Jennifer Michaelson also recently made the following trade(s):
- On Tuesday, September 8th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $21.57, for a total transaction of $172,560.00.
- 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.
Cullinan Therapeutics Price Performance
CGEM traded up $0.51 during trading on Friday, hitting $11.31. The company had a trading volume of 755,506 shares, compared to its average volume of 735,942. Cullinan Therapeutics, Inc. has a 1-year low of $6.73 and a 1-year high of $23.19. The company has a market cap of $727.91 million, a PE ratio of -3.65 and a beta of -0.03. The business has a 50-day moving average of $16.97 and a 200-day moving average of $15.83.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Research analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Wall Street Zen downgraded Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. TD Cowen upgraded Cullinan Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. BTIG Research increased their target price on Cullinan Therapeutics from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. HC Wainwright reiterated a "buy" rating and issued a $35.00 target price on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.86.
Read Our Latest Stock Analysis on CGEM
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Cullinan Therapeutics in the second quarter worth $95,289,000. Blue Owl Capital Holdings LP bought a new stake in Cullinan Therapeutics in the second quarter valued at $28,039,000. Dimensional Fund Advisors LP boosted its holdings in shares of Cullinan Therapeutics by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company's stock valued at $12,870,000 after acquiring an additional 57,259 shares during the period. Boone Capital Management LLC acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at $12,828,000. Finally, Elmind Capital LP acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at $12,564,900. Institutional investors and hedge funds own 86.31% of the company's stock.
About Cullinan Therapeutics
(
Get Free Report)
Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.
Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.
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