Analysts Issue Forecasts for Cullinan Oncology, Inc.’s Q1 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Research analysts at William Blair issued their Q1 2024 EPS estimates for shares of Cullinan Oncology in a research note issued to investors on Monday, April 15th. William Blair analyst M. Phipps anticipates that the company will post earnings per share of ($0.92) for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) per share. William Blair also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

CGEM has been the topic of a number of other research reports. BTIG Research raised their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright dropped their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wedbush began coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $27.75.

Cullinan Oncology Stock Performance

NASDAQ:CGEM opened at $17.88 on Wednesday. The firm has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $12.57. The firm has a market cap of $770.02 million, a P/E ratio of -4.85 and a beta of 0.33. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42.

Hedge Funds Weigh In On Cullinan Oncology

Institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after buying an additional 3,859 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Cullinan Oncology during the second quarter valued at approximately $53,000. Point72 Middle East FZE purchased a new position in Cullinan Oncology during the second quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after purchasing an additional 6,085 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Cullinan Oncology by 499.8% during the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after purchasing an additional 7,492 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the transaction, the insider now owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by insiders.

Cullinan Oncology Company Profile

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.