Cullinan Oncology (NASDAQ:CGEM) Reaches New 12-Month High at $20.62

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $20.62 and last traded at $19.99, with a volume of 677755 shares traded. The stock had previously closed at $16.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CGEM shares. BTIG Research upped their target price on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair started coverage on Cullinan Oncology in a research report on Monday. They set an “outperform” rating on the stock. HC Wainwright lowered their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology presently has a consensus rating of “Buy” and an average price target of $27.75.

Cullinan Oncology Stock Performance

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 capitalization of $770.02 million, a P/E ratio of -4.85 and a beta of 0.33.

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

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the transaction, the insider now directly owns 165,990 shares in the company, valued at approximately $2,338,799.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 98,684 shares of company stock worth $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

Several large investors have recently bought and sold shares of the stock. Blue Owl Capital Holdings LP bought a new stake in shares of Cullinan Oncology during the 4th quarter worth $34,848,000. Assenagon Asset Management S.A. raised its stake in shares of Cullinan Oncology by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after purchasing an additional 482,234 shares during the period. Franklin Resources Inc. raised 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. Millennium Management LLC raised its stake in shares of Cullinan Oncology by 2,959.3% during the 2nd quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock worth $4,124,000 after purchasing an additional 311,169 shares during the period. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Cullinan Oncology during the 4th quarter worth $3,057,000. 86.31% of the stock is currently owned by institutional investors.

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.