Cullinan Oncology (NASDAQ:CGEM) Hits New 52-Week High at $20.62

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) hit a new 52-week high during trading on Tuesday . The stock traded as high as $20.62 and last traded at $19.99, with a volume of 677755 shares traded. The stock had previously closed at $16.55.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CGEM. Wedbush began coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of Cullinan Oncology in a report on Thursday, March 14th. Finally, William Blair initiated coverage on shares of Cullinan Oncology in a report on Monday. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $28.67.

Cullinan Oncology Stock Performance

The business’s 50 day moving average is $17.32 and its 200 day moving average is $12.47. The stock has a market cap of $826.08 million, a price-to-earnings ratio of -5.41 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42. Research analysts expect that Cullinan Oncology, Inc. will post -3.55 earnings per share for the current year.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $14.09, for a total value 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 is accessible through this hyperlink. In the last 90 days, insiders have sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

Large investors have recently modified their holdings of the stock. Swiss National Bank raised its stake in shares of Cullinan Oncology by 8.1% during the first quarter. Swiss National Bank now owns 36,200 shares of the company’s stock worth $379,000 after buying an additional 2,700 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cullinan Oncology by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company’s stock worth $253,000 after acquiring an additional 4,115 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Cullinan Oncology by 57.0% during the first quarter. MetLife Investment Management LLC now owns 15,398 shares of the company’s stock worth $161,000 after acquiring an additional 5,590 shares in the last quarter. Rhumbline Advisers increased its position in shares of Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock worth $336,000 after acquiring an additional 1,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cullinan Oncology by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock worth $1,866,000 after acquiring an additional 3,937 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.