Cullinan Oncology, Inc. (NASDAQ:CGEM) Insider Sells $1,628,060.00 in Stock

Cullinan Oncology, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 58,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.07, for a total value of $1,628,060.00. Following the completion of the transaction, the insider now directly owns 129,582 shares of the company’s stock, valued at approximately $3,637,366.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cullinan Oncology Stock Down 2.0 %

Cullinan Oncology stock opened at $27.17 on Friday. Cullinan Oncology, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -7.36 and a beta of -0.01. The firm’s fifty day moving average is $19.12 and its 200 day moving average is $14.22.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.42. On average, equities research analysts anticipate that Cullinan Oncology, Inc. will post -3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGEM has been the subject of several recent analyst reports. Jonestrading upped their price target on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. 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 target price for the company. BTIG Research lifted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. William Blair assumed coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating for the company. Finally, HC Wainwright reduced their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $31.00.

Institutional Investors Weigh In On Cullinan Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cullinan Oncology by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after purchasing an additional 3,134 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Cullinan Oncology by 81.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after acquiring an additional 4,042 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Cullinan Oncology by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock valued at $5,399,000 after acquiring an additional 91,132 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Cullinan Oncology in the 4th quarter worth about $3,057,000. Finally, NEOS Investment Management LLC purchased a new position in shares of Cullinan Oncology during the 4th quarter worth about $162,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.