Vontobel Holding Ltd. Invests $102,000 in Cullinan Oncology, Inc. (NASDAQ:CGEM)

Vontobel Holding Ltd. purchased a new position in Cullinan Oncology, Inc. (NASDAQ:CGEM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after acquiring an additional 482,234 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Cullinan Oncology by 15.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock worth $1,102,000 after acquiring an additional 16,700 shares during the period. Bank of New York Mellon Corp lifted its stake in Cullinan Oncology by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 97,159 shares of the company’s stock worth $879,000 after acquiring an additional 9,989 shares during the period. Barclays PLC lifted its stake in Cullinan Oncology by 145.6% in the third quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after acquiring an additional 31,650 shares during the period. Finally, Citigroup Inc. lifted its stake in Cullinan Oncology by 186.1% in the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after acquiring an additional 15,308 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wedbush assumed 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 for the company. William Blair assumed coverage on shares of Cullinan Oncology in a research note on Monday, April 15th. They issued an “outperform” rating for the company. BTIG Research increased 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, April 17th. HC Wainwright decreased their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Jonestrading increased 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, April 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Stock Performance

CGEM stock opened at $18.89 on Thursday. The firm has a market cap of $813.59 million, a price-to-earnings ratio of -5.12 and a beta of 0.33. The firm has a 50-day simple moving average of $17.16 and a two-hundred day simple moving average of $12.87. Cullinan Oncology, Inc. has a one year low of $7.64 and a one year high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, equities analysts predict that Cullinan Oncology, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Activity at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.82% of the stock is currently owned by insiders.

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.