Cullinan Oncology (NASDAQ:CGEM) Coverage Initiated by Analysts at William Blair

William Blair assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a report published on Monday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock. William Blair also issued estimates for Cullinan Oncology’s Q1 2024 earnings at ($0.92) EPS, Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

CGEM has been the topic of a number of other reports. Wedbush began 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 on the stock. HC Wainwright restated a buy rating and issued a $34.00 target price on shares of Cullinan Oncology in a research report on Thursday, March 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $27.75.

Cullinan Oncology Price Performance

Cullinan Oncology stock opened at $17.88 on Monday. The stock has a market capitalization of $770.02 million, a PE ratio of -4.85 and a beta of 0.33. The business has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $12.57. Cullinan Oncology has a 12 month low of $7.64 and a 12 month high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. On average, equities research analysts anticipate that Cullinan Oncology will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the sale, the insider now owns 165,990 shares in the company, valued at approximately $2,685,718.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullinan Oncology

Large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Oncology by 352.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after acquiring an additional 3,859 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Cullinan Oncology during the second quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after purchasing an additional 6,085 shares during the period. Point72 Middle East FZE acquired a new position in Cullinan Oncology in the 2nd quarter valued at about $59,000. Finally, Royal Bank of Canada grew its stake in shares of Cullinan Oncology by 499.8% in the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after buying an additional 7,492 shares during the period. 86.31% of the stock is currently owned by hedge funds and other 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.