Cullinan Oncology (NASDAQ:CGEM) Sees Unusually-High Trading Volume

Cullinan Oncology, Inc. (NASDAQ:CGEM) shares saw strong trading volume on Monday . 829,632 shares changed hands during mid-day trading, an increase of 49% from the previous session’s volume of 558,210 shares.The stock last traded at $27.07 and had previously closed at $25.30.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright lowered their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Jonestrading increased their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. William Blair began coverage on Cullinan Oncology in a research note on Monday, April 15th. They set an “outperform” rating on the stock. Wedbush began coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, BTIG Research increased their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology presently has an average rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Price Performance

The company has a 50-day moving average of $17.32 and a two-hundred day moving average of $13.09. The stock has a market capitalization of $1.20 billion, a PE ratio of -7.49 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its 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. On average, research analysts forecast that Cullinan Oncology, Inc. will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following 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 SEC, which is accessible through the SEC website. 8.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

A number of large investors have recently modified their holdings of CGEM. Franklin Resources Inc. raised its holdings in shares of Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after buying an additional 390,505 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Cullinan Oncology by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after buying an additional 482,234 shares during the period. Parkman Healthcare Partners LLC raised its holdings in shares of Cullinan Oncology by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock valued at $5,399,000 after buying an additional 91,132 shares during the period. Affinity Asset Advisors LLC acquired a new stake in Cullinan Oncology during the 4th quarter valued at approximately $3,057,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in Cullinan Oncology by 15.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after purchasing an additional 16,700 shares in the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.