Cullinan Oncology, Inc. (NASDAQ:CGEM) Receives Average Rating of “Buy” from Brokerages

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.75.

Several equities research analysts have weighed in on the company. Wedbush assumed coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price for the company. HC Wainwright lowered their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. BTIG Research boosted their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, William Blair assumed coverage on Cullinan Oncology in a research report on Monday. They issued an “outperform” rating for the company.

Cullinan Oncology Trading Up 3.2 %

CGEM traded up $0.56 on Wednesday, hitting $17.88. 1,260,645 shares of the company’s stock traded hands, compared to its average volume of 453,597. The company’s 50 day simple moving average is $17.30 and its 200-day simple moving average is $12.53. 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 $770.02 million, a price-to-earnings ratio of -4.88 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42. As a group, equities analysts anticipate that Cullinan Oncology will post -3.55 EPS for the current fiscal year.

Insider Activity at Cullinan Oncology

In related news, insider Corrine Savill sold 18,684 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $12.14, for a total transaction of $226,823.76. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 98,684 shares of company stock valued at $1,437,624 in the last ninety days. Corporate insiders own 8.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Cullinan Oncology in the second quarter valued at about $53,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after purchasing an additional 3,859 shares during the period. Point72 Middle East FZE acquired a new position in shares of Cullinan Oncology in the second quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cullinan Oncology by 1,331.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after purchasing an additional 6,085 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Cullinan Oncology by 499.8% in the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after purchasing an additional 7,492 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

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.