Cullinan Oncology (NASDAQ:CGEM) PT Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEM) had its target price upped by BTIG Research from $20.00 to $30.00 in a research note released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. William Blair started coverage on Cullinan Oncology in a research note on Monday. They issued an outperform rating on the stock. Wedbush initiated coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an outperform rating and a $30.00 target price on the stock. Finally, HC Wainwright reduced their price target on Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $27.75.

Cullinan Oncology Stock Up 3.2 %

NASDAQ:CGEM opened at $17.88 on Wednesday. The stock’s 50 day moving average price is $17.29 and its 200 day moving average price is $12.57. The company has a market capitalization of $770.02 million, a PE ratio of -4.85 and a beta of 0.33. Cullinan Oncology has a 52-week low of $7.64 and a 52-week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results 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, sell-side analysts anticipate that Cullinan Oncology will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by insiders.

Institutional Trading of Cullinan Oncology

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cullinan Oncology by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock worth $18,051,000 after purchasing an additional 82,910 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cullinan Oncology by 49.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock worth $1,308,000 after acquiring an additional 42,204 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Cullinan Oncology by 52.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock worth $225,000 after acquiring an additional 7,620 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Cullinan Oncology during the fourth quarter worth approximately $104,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in Cullinan Oncology during the fourth quarter worth approximately $34,848,000. Institutional investors and hedge funds 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.