Cullinan Oncology (NASDAQ:CGEM) Coverage Initiated at William Blair

William Blair started coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research report report published on Monday morning, MarketBeat reports. The firm issued an outperform rating on the stock.

Several other research firms also recently commented on CGEM. HC Wainwright reiterated a buy rating and issued a $34.00 price target on shares of Cullinan Oncology in a research report on Thursday, March 14th. Wedbush initiated coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $28.67.

Cullinan Oncology Price Performance

CGEM stock opened at $16.55 on Monday. The company has a fifty day moving average price of $17.32 and a 200 day moving average price of $12.47. Cullinan Oncology has a 12 month low of $7.64 and a 12 month high of $19.68. The company has a market cap of $712.81 million, a price-to-earnings ratio of -4.49 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, analysts anticipate that Cullinan Oncology will post -3.55 earnings per share for the current year.

Insiders Place Their Bets

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullinan Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP acquired a new position in shares of Cullinan Oncology during the 4th quarter worth $34,848,000. Franklin Resources Inc. grew its stake in shares of Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after purchasing an additional 390,505 shares during the period. Vanguard Group Inc. grew its stake in shares of Cullinan Oncology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company’s stock worth $35,447,000 after purchasing an additional 19,486 shares during the period. BlackRock Inc. grew its stake in shares of Cullinan Oncology by 6.4% during the 3rd quarter. BlackRock Inc. now owns 2,374,825 shares of the company’s stock worth $30,445,000 after purchasing an additional 143,098 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cullinan Oncology by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 915,758 shares of the company’s stock worth $9,332,000 after purchasing an additional 117,042 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

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.