Jennifer Michaelson Sells 8,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Key Points

• Insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics on May 5 at an average price of $14.62 for proceeds of $116,960, leaving her with 166,844 shares (a 4.58% reduction).
• Across multiple trades from February to May she has sold roughly 35,291 shares, generating about $514,518 in total proceeds.
• Cullinan (NASDAQ:CGEM) trades near $14.99 with a market cap of about $921 million, a 52-week range of $5.68–$16.74, and a consensus analyst rating of Moderate Buy with a $29.89 price target.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total value of $116,960.00. Following the completion of the transaction, the insider directly owned 166,844 shares of the company's stock, valued at approximately $2,439,259.28. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Jennifer Michaelson also recently made the following trade(s):

• On Thursday, March 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $15.68, for a total value 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 value 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 value of $52,106.47.
• On Monday, February 23rd, Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $13.99, for a total value of $24,510.48.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The stock was 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 shares were sold at an average price of $12.03, for a total transaction of $5,004.48.

Cullinan Therapeutics Stock Performance

Shares of CGEM traded up $0.05 during trading hours on Wednesday, hitting $14.99. The stock had a trading volume of 886,285 shares, compared to its average volume of 782,875. The firm has a 50-day moving average price of $14.24 and a 200 day moving average price of $11.75. Cullinan Therapeutics, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $16.74. The firm 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 Tuesday, March 10th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.03. As a group, analysts predict that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CGEM shares. Citigroup started coverage on Cullinan Therapeutics in a report on Tuesday, February 17th. They issued a "buy" rating and a $33.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. Morgan Stanley reissued an "overweight" rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, January 8th. HC Wainwright increased their price objective 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. Finally, Zacks Research lowered shares of Cullinan Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.89.

Institutional Trading of Cullinan Therapeutics

Large investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP boosted its stake in Cullinan Therapeutics by 5.2% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company's stock worth $14,890,000 after purchasing an additional 125,000 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at about $194,000. Tema Etfs LLC acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $383,000. Tudor Investment Corp ET AL lifted its stake in shares of Cullinan Therapeutics by 30.9% in the third quarter. Tudor Investment Corp ET AL now owns 28,988 shares of the company's stock worth $172,000 after buying an additional 6,850 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Cullinan Therapeutics by 49.4% during the fourth quarter. SG Americas Securities LLC now owns 15,631 shares of the company's stock worth $162,000 after acquiring an additional 5,165 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Company Profile

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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