Cullinan Oncology (NASDAQ:CGEM) Reaches New 1-Year High at $21.89

Cullinan Oncology, Inc. (NASDAQ:CGEM) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.89 and last traded at $21.36, with a volume of 288839 shares changing hands. The stock had previously closed at $19.25.

Analyst Ratings Changes

A number of analysts recently commented on the stock. 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 target price for the company. HC Wainwright lowered their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. William Blair started coverage on Cullinan Oncology in a research note on Monday, April 15th. They issued an “outperform” rating for the company. Jonestrading increased their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, BTIG Research lifted their target price on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Price Performance

The stock has a fifty day simple moving average of $17.18 and a 200-day simple moving average of $12.91. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.73 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last posted 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. As a group, equities analysts expect that Cullinan Oncology, Inc. will post -3.21 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the transaction, the insider now 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 is accessible through the SEC website. 8.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. SG Americas Securities LLC raised its holdings in shares of Cullinan Oncology by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after acquiring an additional 1,587 shares during the last quarter. Annandale Capital LLC lifted its holdings in Cullinan Oncology by 20.0% in the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after purchasing an additional 2,000 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Cullinan Oncology by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,076 shares of the company’s stock worth $143,000 after purchasing an additional 3,569 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in 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 purchasing an additional 3,859 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 buying an additional 6,085 shares in the last quarter. 86.31% of the stock is 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.