Analysts Set Cullinan Oncology, Inc. (NASDAQ:CGEM) Price Target at $27.75

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $28.75.

CGEM has been the topic of a number of research reports. HC Wainwright reduced their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Wedbush initiated coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price on the stock. William Blair initiated coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating on the stock. BTIG Research increased their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jonestrading increased their target price on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday.

Cullinan Oncology Stock Performance

Shares of CGEM stock opened at $15.66 on Wednesday. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $12.66. Cullinan Oncology has a one year low of $7.64 and a one year high of $20.62. The firm has a market cap of $674.48 million, a P/E ratio of -4.24 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. As a group, research analysts predict that Cullinan Oncology will post -3.36 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 18,684 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $12.14, for a total value of $226,823.76. Following the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 98,684 shares of company stock valued at $1,437,624. Insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Cullinan Oncology in the 2nd quarter valued at approximately $53,000. China Universal Asset Management Co. Ltd. grew its position in shares of Cullinan Oncology by 352.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after buying an additional 3,859 shares during the last quarter. Point72 Middle East FZE purchased a new position in shares of Cullinan Oncology in the 2nd quarter valued at $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cullinan Oncology by 1,331.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after buying an additional 6,085 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Cullinan Oncology by 499.8% in the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after buying an additional 7,492 shares during the last quarter. 86.31% of the stock is 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.