Cullinan Oncology, Inc. (NASDAQ:CGEM) Receives Average Recommendation of “Buy” from Analysts

Cullinan Oncology, Inc. (NASDAQ:CGEM) has earned a consensus recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.00.

A number of equities analysts recently commented on the company. Jonestrading upped their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. BTIG Research upped their target price on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. William Blair assumed coverage on Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating for the company. Stifel Nicolaus assumed coverage on Cullinan Oncology in a report on Wednesday, May 1st. They set a “buy” rating and a $40.00 target price for the company. Finally, HC Wainwright decreased their target price on Cullinan Oncology from $29.00 to $28.00 and set a “buy” rating for the company in a report on Thursday.

Cullinan Oncology Stock Performance

Shares of CGEM stock opened at $23.81 on Friday. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $30.19. The stock has a 50 day moving average price of $19.93 and a two-hundred day moving average price of $14.82. The company has a market capitalization of $1.03 billion, a P/E ratio of -6.45 and a beta of -0.01.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, equities analysts predict that Cullinan Oncology will post -3.23 earnings per share for the current year.

Insider Buying and Selling at Cullinan Oncology

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

Hedge Funds Weigh In On Cullinan Oncology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Cullinan Oncology by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after acquiring an additional 820 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Cullinan Oncology by 31.0% during 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. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 3,134 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Cullinan Oncology by 81.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after purchasing an additional 4,042 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its position in 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 purchasing an additional 91,132 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.