Cullinan Oncology (NASDAQ:CGEM) PT Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEM) had its target price boosted by stock analysts at BTIG Research from $20.00 to $30.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 66.11% from the company’s previous close.

Several other research analysts also recently commented on the stock. HC Wainwright cut their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. William Blair started coverage on shares of Cullinan Oncology in a report on Monday. They issued an “outperform” rating for the company. Finally, Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Stock Up 1.0 %

Cullinan Oncology stock opened at $18.06 on Wednesday. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62. The firm has a 50 day moving average price of $17.29 and a 200-day moving average price of $12.60. The company has a market capitalization of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. Equities analysts expect that Cullinan Oncology will post -3.6 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 18,684 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $12.14, for a total value of $226,823.76. Following the completion of the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 98,684 shares of company stock valued at $1,437,624 in the last three months. Company insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Several institutional investors and hedge funds have recently made changes to their positions in CGEM. Swiss National Bank raised its position in shares of Cullinan Oncology by 8.1% during the 1st quarter. Swiss National Bank now owns 36,200 shares of the company’s stock valued at $379,000 after buying an additional 2,700 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cullinan Oncology by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company’s stock valued at $253,000 after buying an additional 4,115 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Cullinan Oncology by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 15,398 shares of the company’s stock valued at $161,000 after buying an additional 5,590 shares in the last quarter. Rhumbline Advisers raised its position in shares of Cullinan Oncology by 4.7% during the 1st quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after buying an additional 1,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cullinan Oncology by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock valued at $1,866,000 after buying an additional 3,937 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.