William Blair Weighs in on Cullinan Oncology, Inc.’s Q1 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Equities researchers at William Blair issued their Q1 2024 EPS estimates for shares of Cullinan Oncology in a report issued on Monday, April 15th. William Blair analyst M. Phipps expects that the company will earn ($0.92) per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.60) per share. William Blair also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

A number of other analysts have also weighed in on CGEM. Wedbush started coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. HC Wainwright dropped their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. BTIG Research raised their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jonestrading raised their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $28.75.

Cullinan Oncology Price Performance

NASDAQ:CGEM opened at $18.06 on Wednesday. The firm has a market capitalization of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33. Cullinan Oncology has a 1-year low of $7.64 and a 1-year high of $20.62. The company’s fifty day moving average price is $17.29 and its 200-day moving average price is $12.60.

Insider Buying and Selling at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the transaction, 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 accessible through this link. Insiders have sold a total of 98,684 shares of company stock valued at $1,437,624 over the last ninety days. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

Several hedge funds and other institutional investors have recently modified their holdings of CGEM. Barclays PLC raised its stake in Cullinan Oncology by 145.6% during the third quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares during the period. Assenagon Asset Management S.A. raised its stake in Cullinan Oncology by 380.1% during the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after purchasing an additional 482,234 shares during the period. Citigroup Inc. raised its stake in Cullinan Oncology by 186.1% during the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after purchasing an additional 15,308 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in Cullinan Oncology by 15.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock worth $1,102,000 after purchasing an additional 16,700 shares during the period. Finally, Federated Hermes Inc. purchased a new position in Cullinan Oncology during the third quarter worth about $181,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

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.