Cullinan Oncology (NASDAQ:CGEM) Shares Gap Up Following Analyst Upgrade

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s share price gapped up before the market opened on Wednesday after Jonestrading raised their price target on the stock from $22.00 to $26.00. The stock had previously closed at $17.32, but opened at $18.01. Jonestrading currently has a buy rating on the stock. Cullinan Oncology shares last traded at $19.26, with a volume of 226,396 shares.

Other equities research analysts have also recently issued research reports about the company. Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective on the stock. BTIG Research upped their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair assumed coverage on Cullinan Oncology in a report on Monday. They set an “outperform” rating on the stock. Finally, HC Wainwright decreased their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.75.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.09, for a total value of $563,600.00. Following the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 98,684 shares of company stock valued at $1,437,624 in the last ninety days. 8.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Oncology

Several large investors have recently modified their holdings of the stock. Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Oncology during the 4th quarter worth $34,848,000. Franklin Resources Inc. grew its holdings in shares of Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after purchasing an additional 390,505 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cullinan Oncology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company’s stock worth $35,447,000 after purchasing an additional 19,486 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cullinan Oncology by 6.4% during the 3rd quarter. BlackRock Inc. now owns 2,374,825 shares of the company’s stock worth $30,445,000 after purchasing an additional 143,098 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cullinan Oncology by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 915,758 shares of the company’s stock worth $9,332,000 after purchasing an additional 117,042 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Oncology Stock Performance

The company has a market capitalization of $777.84 million, a price-to-earnings ratio of -4.89 and a beta of 0.33. The firm has a fifty day moving average price of $17.29 and a 200-day moving average price of $12.60.

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, topping the consensus estimate of ($0.96) by $0.42. On average, sell-side analysts forecast that Cullinan Oncology, Inc. will post -3.6 EPS for the current fiscal year.

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.