Cullinan Oncology, Inc. (NASDAQ:CGEM) Receives $27.75 Average Price Target from Analysts

Cullinan Oncology, Inc. (NASDAQ:CGEM) has received a consensus rating of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.75.

Several equities analysts have recently weighed in on CGEM shares. Wedbush started coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective for the company. BTIG Research raised their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Jonestrading raised their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. William Blair assumed coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They issued an “outperform” rating for the company. Finally, HC Wainwright decreased their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday.

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 transaction of $563,600.00. Following the completion of the sale, the insider now directly owns 165,990 shares in the company, valued at $2,338,799.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is owned by company insiders.

Institutional Trading of Cullinan Oncology

Several institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its holdings in shares of Cullinan Oncology by 1.3% during the third quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock worth $1,376,000 after purchasing an additional 1,347 shares during the period. Rhumbline Advisers raised its position in Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after acquiring an additional 1,445 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Cullinan Oncology by 5.6% in the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock valued at $298,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC raised its position in shares of Cullinan Oncology by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after purchasing an additional 1,587 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Cullinan Oncology by 7.9% in the second quarter. California State Teachers Retirement System now owns 23,485 shares of the company’s stock valued at $253,000 after purchasing an additional 1,719 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Oncology Trading Down 13.3 %

Cullinan Oncology stock opened at $15.66 on Wednesday. The stock has a market cap of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33. The company’s 50-day moving average price is $17.23 and its two-hundred day moving average price is $12.66. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last released its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. Research analysts expect that Cullinan Oncology will post -3.36 earnings per share for the current fiscal year.

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.