Cullinan Oncology, Inc. (NASDAQ:CGEM) to Post Q2 2024 Earnings of ($0.66) Per Share, Wedbush Forecasts

Cullinan Oncology, Inc. (NASDAQ:CGEMFree Report) – Equities researchers at Wedbush upped their Q2 2024 earnings estimates for Cullinan Oncology in a report released on Thursday, May 16th. Wedbush analyst R. Driscoll now expects that the company will earn ($0.66) per share for the quarter, up from their previous forecast of ($0.73). Wedbush has a “Outperform” rating and a $36.00 price objective on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.15) per share. Wedbush also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.82) EPS, Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.75) EPS, Q4 2025 earnings at ($0.68) EPS, FY2025 earnings at ($2.84) EPS, FY2026 earnings at ($2.96) EPS, FY2027 earnings at ($2.65) EPS and FY2028 earnings at ($0.10) EPS.

Cullinan Oncology (NASDAQ:CGEMGet Free Report) 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.

Several other equities research analysts have also commented on CGEM. Jonestrading boosted their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BTIG Research upped their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Stifel Nicolaus began coverage on Cullinan Oncology in a research note on Wednesday, May 1st. They set a “buy” rating and a $40.00 price objective for the company. William Blair started coverage on Cullinan Oncology in a research note on Monday, April 15th. They issued an “outperform” rating on the stock. Finally, HC Wainwright reduced their price target on Cullinan Oncology from $29.00 to $28.00 and set a “buy” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Oncology currently has an average rating of “Buy” and a consensus price target of $32.00.

Check Out Our Latest Report on CGEM

Cullinan Oncology Stock Performance

Shares of NASDAQ:CGEM opened at $23.17 on Monday. 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. The stock has a 50 day moving average price of $20.06 and a 200-day moving average price of $15.00.

Insider Buying and Selling

In other Cullinan Oncology news, insider Jennifer Michaelson sold 58,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 129,582 shares in the company, valued at $3,637,366.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several hedge funds have recently made changes to their positions in CGEM. Bank of New York Mellon Corp increased its holdings in shares of Cullinan Oncology by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 97,159 shares of the company’s stock valued at $879,000 after purchasing an additional 9,989 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased 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 buying an additional 6,085 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Cullinan Oncology by 380.1% in 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 period. Barclays PLC boosted 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 acquiring an additional 31,650 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Cullinan Oncology during the third quarter worth approximately $203,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Oncology Company Profile

(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.

Read More

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

Receive News & Ratings for Cullinan Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullinan Oncology and related companies with MarketBeat.com's FREE daily email newsletter.