Cullinan Oncology (NASDAQ:CGEM) Price Target Increased to $26.00 by Analysts at Jonestrading

Cullinan Oncology (NASDAQ:CGEM) had its price objective raised by research analysts at Jonestrading from $22.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jonestrading’s price objective suggests a potential upside of 43.96% from the company’s current price.

CGEM has been the subject of several other reports. Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target for the company. William Blair initiated coverage on shares of Cullinan Oncology in a research report on Monday. They set an “outperform” rating on the stock. BTIG Research boosted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright cut 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. Six 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 a consensus target price of $28.75.

Cullinan Oncology Trading Up 1.0 %

Cullinan Oncology stock opened at $18.06 on Wednesday. The firm has a 50 day simple moving average of $17.29 and a 200 day simple moving average of $12.60. The firm has a market capitalization of $777.84 million, a price-to-earnings ratio of -4.89 and a beta of 0.33. Cullinan Oncology has a 1-year low of $7.64 and a 1-year high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. On average, equities research analysts forecast that Cullinan Oncology will post -3.6 EPS for the current year.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the sale, the insider now owns 165,990 shares in the company, valued at $2,338,799.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 98,684 shares of company stock valued at $1,437,624 over the last quarter. 8.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Cullinan Oncology by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock worth $18,051,000 after buying an additional 82,910 shares during the period. Goldman Sachs Group Inc. increased its position in Cullinan Oncology by 49.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock valued at $1,308,000 after buying an additional 42,204 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Cullinan Oncology by 52.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock valued at $225,000 after buying an additional 7,620 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Cullinan Oncology in the fourth quarter valued at about $104,000. Finally, Blue Owl Capital Holdings LP acquired a new position in shares of Cullinan Oncology in the fourth quarter valued at about $34,848,000. Hedge funds and other institutional investors 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.