Q1 2024 Earnings Estimate for Cullinan Oncology, Inc. Issued By Wedbush (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Wedbush upped their Q1 2024 earnings per share (EPS) estimates for shares of Cullinan Oncology in a report released on Tuesday, April 16th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($0.72) for the quarter, up from their previous forecast of ($0.97). Wedbush has a “Outperform” rating and a $30.00 price objective on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. Wedbush also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.73) EPS, Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($3.13) EPS, FY2026 earnings at ($3.21) EPS, FY2027 earnings at ($2.86) EPS and FY2028 earnings at ($0.27) EPS.

Several other research analysts have also recently weighed in on the stock. HC Wainwright decreased their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Jonestrading upped their target price on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research raised their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Finally, William Blair assumed coverage on Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cullinan Oncology currently has an average rating of “Buy” and an average price target of $28.75.

Cullinan Oncology Price Performance

NASDAQ CGEM opened at $15.66 on Thursday. The company’s 50 day simple moving average is $17.23 and its two-hundred day simple moving average is $12.66. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The stock has a market capitalization of $674.48 million, a PE ratio of -4.24 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42.

Insider Transactions at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the 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 transaction, the insider now directly owns 165,990 shares in the company, valued at $2,338,799.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Oncology

Several institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its stake in shares of Cullinan Oncology by 1.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after acquiring an additional 1,347 shares during the last quarter. Rhumbline Advisers lifted its position in Cullinan Oncology by 4.7% in the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after purchasing an additional 1,445 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cullinan Oncology by 5.6% during 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 grew its holdings 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 worth $147,000 after purchasing an additional 1,587 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake 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 worth $253,000 after buying an additional 1,719 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.