Research Analysts Offer Predictions for Cullinan Oncology, Inc.’s Q2 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at William Blair raised their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a report issued on Tuesday, April 16th. William Blair analyst M. Phipps now anticipates that the company will post earnings of ($0.75) per share for the quarter, up from their prior forecast of ($0.95). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.21) per share. William Blair also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($3.03) EPS and FY2027 earnings at ($2.98) EPS.

Other equities analysts have also issued reports about the company. HC Wainwright dropped their price objective on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. Jonestrading lifted their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BTIG Research lifted 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology presently has a consensus rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Stock Performance

Cullinan Oncology stock opened at $15.66 on Friday. The business’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $12.69. The firm has a market capitalization of $674.48 million, a PE ratio of -4.24 and a beta of 0.33. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

Insider Activity at Cullinan Oncology

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

Hedge Funds Weigh In On Cullinan Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Cullinan Oncology by 145.6% in the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock valued at $483,000 after purchasing an additional 31,650 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Cullinan Oncology by 380.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after purchasing an additional 482,234 shares during the period. Citigroup Inc. grew its stake in shares of Cullinan Oncology by 186.1% in the 3rd quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock valued at $213,000 after purchasing an additional 15,308 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Cullinan Oncology by 15.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after purchasing an additional 16,700 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Cullinan Oncology in the 3rd quarter valued at approximately $181,000. 86.31% of the stock is currently owned by institutional investors.

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.