Cullinan Oncology, Inc. (NASDAQ:CGEM) Insider Sells $1,628,060.00 in Stock

Cullinan Oncology, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 58,000 shares of the business's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.07, for a total transaction of $1,628,060.00. Following the sale, the insider now owns 129,582 shares of the company's stock, valued at approximately $3,637,366.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cullinan Oncology Price Performance

Shares of CGEM traded down $1.63 during trading hours on Wednesday, reaching $27.72. 1,031,661 shares of the company's stock traded hands, compared to its average volume of 620,902. The business's fifty day simple moving average is $18.76 and its two-hundred day simple moving average is $14.03. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.95 and a beta of -0.01. Cullinan Oncology, Inc. has a twelve month low of $7.64 and a twelve month high of $30.19.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.96) by $0.42. On average, equities research analysts expect that Cullinan Oncology, Inc. will post -3.23 EPS for the current year.

Wall Street Analyst Weigh In

CGEM has been the topic of several research reports. William Blair initiated coverage on shares of Cullinan Oncology in a research note on Monday, April 15th. They set an "outperform" rating on the stock. BTIG Research raised their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Jonestrading upped their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, April 17th. Stifel Nicolaus began coverage on Cullinan Oncology in a research note on Wednesday, May 1st. They issued a "buy" rating and a $40.00 target price on the stock. Finally, HC Wainwright dropped their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $31.00.

Institutional Trading of Cullinan Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in Cullinan Oncology by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company's stock valued at $33,436,000 after purchasing an additional 390,505 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Cullinan Oncology by 380.1% during the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company's stock valued at $5,512,000 after acquiring an additional 482,234 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in Cullinan Oncology by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company's stock valued at $5,399,000 after acquiring an additional 91,132 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Cullinan Oncology in the 4th quarter valued at $3,057,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Cullinan Oncology by 15.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company's stock worth $1,102,000 after buying an additional 16,700 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

About Cullinan Oncology

Cullinan Oncology, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.