Cullinan Oncology (NASDAQ:CGEM) Given New $26.00 Price Target at Jonestrading

Cullinan Oncology (NASDAQ:CGEM) had its price target hoisted by Jonestrading from $22.00 to $26.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reduced their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a research note on Tuesday. BTIG Research lifted their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a buy rating in a research note on Wednesday. Wedbush initiated coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an outperform rating and a $30.00 target price on the stock. Finally, William Blair initiated coverage on Cullinan Oncology in a report on Monday. They issued an outperform rating for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Oncology currently has a consensus rating of Buy and an average price target of $28.75.

Cullinan Oncology Price Performance

NASDAQ:CGEM opened at $17.88 on Wednesday. The company has a market capitalization of $770.09 million, a P/E ratio of -4.85 and a beta of 0.33. The business has a fifty day simple moving average of $17.29 and a two-hundred day simple moving average of $12.57. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.42. As a group, analysts anticipate that Cullinan Oncology will post -3.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Corrine Savill sold 40,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 165,990 shares in the company, valued at approximately $2,685,718.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 98,684 shares of company stock worth $1,437,624 in the last three months. 8.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Oncology

Large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Oncology by 352.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after acquiring an additional 3,859 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Cullinan Oncology in the second quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after purchasing an additional 6,085 shares during the last quarter. Point72 Middle East FZE purchased a new position in Cullinan Oncology in the 2nd quarter worth approximately $59,000. Finally, Royal Bank of Canada increased its holdings in shares of Cullinan Oncology by 499.8% in the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after buying an additional 7,492 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

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.