Bailard Inc. Purchases Shares of 10,800 Cullinan Oncology, Inc. (NASDAQ:CGEM)

Bailard Inc. acquired a new position in Cullinan Oncology, Inc. (NASDAQ:CGEM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,800 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Cullinan Oncology during the 3rd quarter valued at approximately $116,000. Bank of New York Mellon Corp raised its position in Cullinan Oncology by 11.5% during the third quarter. Bank of New York Mellon Corp now owns 97,159 shares of the company’s stock valued at $879,000 after acquiring an additional 9,989 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Oncology by 1,331.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares during the period. Assenagon Asset Management S.A. boosted its position in Cullinan Oncology by 380.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after purchasing an additional 482,234 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Cullinan Oncology by 145.6% during the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CGEM shares. Jonestrading increased their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. William Blair assumed coverage on Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating on the stock. BTIG Research upped their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. 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 report on Tuesday, April 16th. Finally, Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $28.75.

Insider Activity at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total transaction of $647,200.00. Following the sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.82% of the stock is owned by corporate insiders.

Cullinan Oncology Stock Up 7.2 %

CGEM opened at $27.12 on Tuesday. The company has a market cap of $1.17 billion, a PE ratio of -7.35 and a beta of 0.33. Cullinan Oncology, Inc. has a twelve month low of $7.64 and a twelve month high of $29.12. The company has a 50-day moving average price of $17.50 and a 200 day moving average price of $13.21.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42. As a group, sell-side analysts expect that Cullinan Oncology, Inc. will post -3.21 earnings per share for the current 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.