Cullinan Oncology, Inc. (NASDAQ:CGEM) Forecasted to Earn Q1 2024 Earnings of ($0.72) Per Share

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at Wedbush increased their Q1 2024 earnings estimates for Cullinan Oncology in a research report issued to clients and investors on Tuesday, April 16th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($0.72) for the quarter, up from their previous estimate of ($0.97). Wedbush currently has a “Outperform” rating and a $30.00 target price on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.60) per share. Wedbush also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.73) EPS, Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($3.13) EPS, FY2026 earnings at ($3.21) EPS, FY2027 earnings at ($2.86) EPS and FY2028 earnings at ($0.27) EPS.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.42.

Other equities analysts also recently issued research reports about the stock. HC Wainwright lowered 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. Jonestrading lifted their target price on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair initiated coverage on shares of Cullinan Oncology in a research note on Monday. They set an “outperform” rating for the company. Finally, BTIG Research lifted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Oncology currently has an average rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Stock Up 1.0 %

Shares of NASDAQ CGEM opened at $18.06 on Thursday. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62. The firm has a fifty day simple moving average of $17.29 and a 200 day simple moving average of $12.60. The company has a market capitalization of $777.84 million, a PE ratio of -4.89 and a beta of 0.33.

Institutional Investors Weigh In On Cullinan Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Cullinan Oncology by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock valued at $18,051,000 after purchasing an additional 82,910 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cullinan Oncology by 49.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock valued at $1,308,000 after buying an additional 42,204 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $225,000 after buying an additional 7,620 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Cullinan Oncology during the fourth quarter valued at about $104,000. Finally, Blue Owl Capital Holdings LP acquired a new position in shares of Cullinan Oncology during the fourth quarter valued at about $34,848,000. 86.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the completion of the sale, the insider now directly 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 available at the SEC website. Over the last ninety days, insiders sold 98,684 shares of company stock valued at $1,437,624. Corporate insiders own 8.82% 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.