Cullinan Oncology, Inc. (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 58,000 Shares of Stock

Cullinan Oncology, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 58,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $28.07, for a total value of $1,628,060.00. Following the completion of the sale, the insider now directly owns 129,582 shares of the company’s stock, valued at $3,637,366.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cullinan Oncology Trading Down 5.6 %

Shares of CGEM opened at $27.72 on Thursday. Cullinan Oncology, Inc. has a 12-month low of $7.64 and a 12-month high of $30.19. The stock has a market cap of $1.19 billion, a P/E ratio of -7.51 and a beta of -0.01. The company has a 50-day moving average of $18.95 and a two-hundred day moving average of $14.13.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.42. As a group, analysts forecast that Cullinan Oncology, Inc. will post -3.23 EPS for the current fiscal year.

Analyst Ratings Changes

CGEM has been the subject of a number of research reports. Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price for the company. Jonestrading raised their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. William Blair began coverage on shares of Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating on the stock. HC Wainwright reduced their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, BTIG Research upped 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Oncology currently has a consensus rating of “Buy” and an average target price of $31.00.

Institutional Trading of Cullinan Oncology

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Cullinan Oncology by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock worth $147,000 after acquiring an additional 1,587 shares during the period. Annandale Capital LLC grew its position in shares of Cullinan Oncology by 20.0% in the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after purchasing an additional 2,000 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Cullinan Oncology by 22.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after purchasing an additional 3,134 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Cullinan Oncology by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,076 shares of the company’s stock worth $143,000 after buying an additional 3,569 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cullinan Oncology by 352.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after acquiring an additional 3,859 shares during the period. 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.