Cullinan Oncology (NASDAQ:CGEM) Trading Up 5.9% After Analyst Upgrade

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s stock price traded up 5.9% during mid-day trading on Thursday after Jonestrading raised their price target on the stock from $22.00 to $26.00. Jonestrading currently has a buy rating on the stock. Cullinan Oncology traded as high as $19.14 and last traded at $18.94. 60,437 shares were traded during trading, a decline of 87% from the average session volume of 450,834 shares. The stock had previously closed at $17.88.

Several other equities analysts have also recently weighed in on the company. William Blair assumed coverage on Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating for the company. Wedbush assumed coverage on Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target for the company. BTIG Research raised their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Finally, HC Wainwright cut 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $28.75.

Insiders Place Their Bets

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction dated 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 sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

A number of large investors have recently bought and sold shares of CGEM. Barclays PLC increased its stake in Cullinan Oncology by 145.6% during the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after buying an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after purchasing an additional 482,234 shares in the last quarter. Citigroup Inc. grew its position in shares of Cullinan Oncology by 186.1% in the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock valued at $213,000 after purchasing an additional 15,308 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Cullinan Oncology by 15.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Cullinan Oncology in the third quarter valued at approximately $181,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Oncology Stock Down 13.3 %

The business has a 50-day moving average price of $17.23 and a 200-day moving average price of $12.66. The firm has a market capitalization of $674.48 million, a PE 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) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.42. On average, equities research analysts anticipate that Cullinan Oncology, Inc. will post -3.36 earnings per share for the current year.

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.