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

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at Wedbush raised their Q1 2024 earnings per share estimates for shares of Cullinan Oncology in a research report issued on Tuesday, April 16th. Wedbush analyst R. Driscoll now forecasts that the company will earn ($0.72) per share for the quarter, up from their prior estimate of ($0.97). Wedbush currently has a “Outperform” rating and a $30.00 target price on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) 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.

A number of other equities research analysts also recently commented on CGEM. BTIG Research increased their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. HC Wainwright reduced their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. Finally, William Blair assumed coverage on Cullinan Oncology in a report on Monday. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology has a consensus rating of “Buy” and a consensus price target of $27.75.

Cullinan Oncology Stock Performance

Shares of NASDAQ:CGEM opened at $17.88 on Thursday. Cullinan Oncology has a one year low of $7.64 and a one year high of $20.62. The stock has a fifty day moving average of $17.29 and a 200-day moving average of $12.57. The company has a market capitalization of $770.02 million, a PE ratio of -4.85 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last announced 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 Activity

In other news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 98,684 shares of company stock worth $1,437,624 over the last quarter. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of Cullinan Oncology by 352.4% in the fourth 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 last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Cullinan Oncology in the second quarter worth $53,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cullinan Oncology by 1,331.5% in the third 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 during the last quarter. Point72 Middle East FZE acquired a new position in shares of Cullinan Oncology in the second quarter worth $59,000. Finally, Royal Bank of Canada increased its stake in shares of Cullinan Oncology by 499.8% in the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after acquiring an additional 7,492 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

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.