Q2 2024 Earnings Estimate for Cullinan Oncology, Inc. Issued By HC Wainwright (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Analysts at HC Wainwright boosted their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a report issued on Tuesday, April 16th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($0.67) per share for the quarter, up from their previous forecast of ($0.98). HC Wainwright has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.60) per share. HC Wainwright also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($3.06) EPS, FY2025 earnings at ($2.52) EPS and FY2026 earnings at ($2.96) EPS.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings results 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.

Other research analysts have also issued reports about the stock. Wedbush assumed coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target for the company. Jonestrading upped their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research increased their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, William Blair assumed coverage on Cullinan Oncology in a research report on Monday. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Price Performance

CGEM stock opened at $18.06 on Thursday. The firm has a market cap 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. The firm has a fifty day moving average price of $17.29 and a two-hundred day moving average price of $12.60.

Insiders Place Their Bets

In related news, insider Corrine Savill sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 98,684 shares of company stock worth $1,437,624. Insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of CGEM. Barclays PLC raised its holdings in Cullinan Oncology by 145.6% during the third quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cullinan Oncology by 380.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after buying an additional 482,234 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Cullinan Oncology by 186.1% in the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock valued at $213,000 after buying an additional 15,308 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Cullinan Oncology by 15.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after buying an additional 16,700 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Cullinan Oncology during the third quarter worth about $181,000. 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.