HC Wainwright Lowers Cullinan Oncology (NASDAQ:CGEM) Price Target to $29.00

Cullinan Oncology (NASDAQ:CGEM) had its target price decreased by HC Wainwright from $34.00 to $29.00 in a report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.67) EPS, 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.

Other research analysts also recently issued research reports about the company. Wedbush started coverage on Cullinan Oncology in a report on Thursday, February 15th. They set an outperform rating and a $30.00 target price on the stock. William Blair started coverage on Cullinan Oncology in a report on Monday. They set an outperform rating on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cullinan Oncology currently has a consensus rating of Buy and a consensus target price of $28.75.

Cullinan Oncology Stock Up 1.0 %

Shares of NASDAQ CGEM opened at $18.06 on Tuesday. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $20.62. The business has a 50 day moving average price of $17.29 and a two-hundred day moving average price of $12.60. The firm has a market cap of $777.84 million, a PE ratio of -4.89 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. On average, analysts anticipate that Cullinan Oncology will post -3.6 earnings per share for the current year.

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 stock was sold at an average price of $14.09, for a total value of $563,600.00. Following the sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 98,684 shares of company stock valued at $1,437,624. Insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Cullinan Oncology by 145.6% in the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Cullinan Oncology by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after acquiring an additional 482,234 shares in the last quarter. Citigroup Inc. raised its stake in Cullinan Oncology by 186.1% during the 3rd quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock valued at $213,000 after acquiring an additional 15,308 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Cullinan Oncology by 15.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Cullinan Oncology during the 3rd quarter valued at $203,000. Institutional investors own 86.31% of the company’s stock.

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.