Cullinan Oncology (NASDAQ:CGEM) PT Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEM) had its target price raised by analysts at BTIG Research from $20.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 66.11% from the stock’s previous close.

Several other brokerages have also recently weighed in on CGEM. HC Wainwright decreased their price objective on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. Wedbush assumed coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, William Blair assumed coverage on Cullinan Oncology in a report on Monday. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Price Performance

CGEM opened at $18.06 on Wednesday. The business’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $12.60. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The company has a market capitalization of $777.84 million, a price-to-earnings ratio of -4.89 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) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. Sell-side analysts anticipate that Cullinan Oncology will post -3.6 earnings per share for the current fiscal year.

Insider Transactions at Cullinan Oncology

In other news, insider Corrine Savill sold 18,684 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total transaction of $226,823.76. Following the completion of the sale, the insider now owns 165,990 shares in the company, valued at $2,015,118.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 98,684 shares of company stock worth $1,437,624 over the last quarter. Company insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

A number of institutional investors have recently made changes to their positions in CGEM. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cullinan Oncology by 352.4% during 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 period. Public Employees Retirement System of Ohio acquired a new position in Cullinan Oncology during the second quarter valued at approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after purchasing an additional 6,085 shares in the last quarter. Point72 Middle East FZE acquired a new position in Cullinan Oncology during the second quarter valued at approximately $59,000. Finally, Royal Bank of Canada raised its position in Cullinan Oncology by 499.8% during the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after purchasing an additional 7,492 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

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.