Cullinan Oncology, Inc. Expected to Post Q2 2024 Earnings of ($0.74) Per Share (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEMFree Report) – Stock analysts at HC Wainwright lowered their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a research note issued to investors on Thursday, May 16th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($0.74) per share for the quarter, down from their prior estimate of ($0.67). HC Wainwright currently has a “Buy” rating and a $28.00 price target on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.15) per share. HC Wainwright also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.73) EPS, Q4 2024 earnings at ($0.80) EPS, FY2024 earnings at ($3.11) EPS, FY2025 earnings at ($2.66) EPS and FY2026 earnings at ($3.10) EPS.

Cullinan Oncology (NASDAQ:CGEMGet Free Report) last posted its earnings results 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.

CGEM has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cullinan Oncology in a report on Thursday. Stifel Nicolaus assumed coverage on Cullinan Oncology in a research note on Wednesday, May 1st. They issued a “buy” rating and a $40.00 price objective for the company. William Blair initiated coverage on Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating on the stock. BTIG Research raised their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Jonestrading boosted their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.00.

View Our Latest Report on CGEM

Cullinan Oncology Stock Down 2.7 %

CGEM stock opened at $23.17 on Monday. The company has a fifty day simple moving average of $20.06 and a two-hundred day simple moving average of $15.00. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $30.19. The firm has a market capitalization of $997.93 million, a P/E ratio of -7.40 and a beta of -0.01.

Insider Activity at Cullinan Oncology

In related news, insider Jennifer Michaelson sold 58,000 shares of Cullinan Oncology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $28.07, for a total transaction of $1,628,060.00. Following the completion of the sale, the insider now owns 129,582 shares in the company, valued at approximately $3,637,366.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in shares of Cullinan Oncology by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after purchasing an additional 615 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cullinan Oncology by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after buying an additional 820 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Cullinan Oncology by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock worth $147,000 after buying an additional 1,587 shares during the period. Annandale Capital LLC boosted its position in Cullinan Oncology by 20.0% during the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Cullinan Oncology by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after acquiring an additional 3,134 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

About Cullinan Oncology

(Get Free Report)

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.

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Earnings History and Estimates for Cullinan Oncology (NASDAQ:CGEM)

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