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

Investment analysts at William Blair assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research note issued on Monday, Briefing.com reports. The brokerage set an “outperform” rating on the stock.

Several other research firms also recently weighed in on CGEM. Wedbush assumed coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $34.00 price target on shares of Cullinan Oncology in a report on Thursday, March 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology currently has a consensus rating of “Buy” and a consensus target price of $28.67.

Cullinan Oncology Stock Down 4.0 %

CGEM stock opened at $16.67 on Monday. The stock has a market capitalization of $717.98 million, a PE ratio of -4.52 and a beta of 0.33. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $19.68. The firm has a 50 day moving average of $17.35 and a 200 day moving average of $12.42.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings data 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 expect that Cullinan Oncology will post -3.55 earnings per share for the current year.

Insider Activity

In related news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 98,684 shares of company stock valued at $1,437,624 in the last quarter. 8.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased 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 valued at $50,000 after purchasing an additional 3,859 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Cullinan Oncology in the second quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cullinan Oncology by 1,331.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after acquiring an additional 6,085 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Cullinan Oncology during the 2nd quarter valued at about $59,000. Finally, Royal Bank of Canada grew its position in shares of Cullinan Oncology by 499.8% during the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after acquiring an additional 7,492 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

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.