Cullinan Oncology (NASDAQ:CGEM) Price Target Raised to $26.00

Cullinan Oncology (NASDAQ:CGEM) had its price objective raised by Jonestrading from $22.00 to $26.00 in a report released on Wednesday morning, Benzinga reports. Jonestrading currently has a buy rating on the stock.

CGEM has been the topic of several other reports. Wedbush initiated coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They set an outperform rating and a $30.00 price target on the stock. BTIG Research raised their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday. HC Wainwright lowered their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating on the stock in a report on Tuesday. Finally, William Blair started coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They issued an outperform rating on the stock. 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 an average price target of $28.75.

Cullinan Oncology Trading Down 13.3 %

Shares of CGEM opened at $15.66 on Wednesday. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62. The firm’s fifty day simple moving average is $17.23 and its 200-day simple moving average is $12.66. The firm has a market capitalization of $674.48 million, a price-to-earnings ratio of -4.24 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 analysts’ consensus estimates of ($0.96) by $0.42. On average, analysts predict that Cullinan Oncology will post -3.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $14.09, for a total transaction of $563,600.00. Following the sale, the insider now owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 98,684 shares of company stock valued at $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

A number of institutional investors have recently added to or reduced their stakes in CGEM. Blue Owl Capital Holdings LP purchased a new stake in Cullinan Oncology during the fourth quarter worth about $34,848,000. Assenagon Asset Management S.A. raised its position in Cullinan Oncology by 380.1% during the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after acquiring an additional 482,234 shares during the last quarter. Franklin Resources Inc. raised its position in Cullinan Oncology by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after acquiring an additional 390,505 shares during the last quarter. Millennium Management LLC raised its position in Cullinan Oncology by 2,959.3% during the second quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock worth $4,124,000 after acquiring an additional 311,169 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Cullinan Oncology during the fourth quarter worth about $3,057,000. Hedge funds and other 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.