Cullinan Oncology (NASDAQ:CGEM) PT Raised to $30.00

Cullinan Oncology (NASDAQ:CGEM) had its target price raised by investment analysts at BTIG Research from $20.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 63.13% from the company’s current price.

Several other brokerages have also issued reports on CGEM. HC Wainwright dropped their price target on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday. William Blair initiated coverage on shares of Cullinan Oncology in a research report on Monday. They set an “outperform” rating on the stock. Finally, Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology presently has a consensus rating of “Buy” and an average target price of $27.75.

Cullinan Oncology Price Performance

Shares of CGEM stock traded up $1.07 on Wednesday, hitting $18.39. 994,949 shares of the company’s stock were exchanged, compared to its average volume of 452,400. Cullinan Oncology has a 12 month low of $7.64 and a 12 month high of $20.62. The company has a 50 day moving average of $17.30 and a 200 day moving average of $12.53. The stock has a market cap of $792.06 million, a P/E ratio of -4.88 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results 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. Sell-side analysts predict that Cullinan Oncology will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Corrine Savill sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total transaction of $647,200.00. Following the completion of the sale, the insider now owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 98,684 shares of company stock valued at $1,437,624. Company insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Cullinan Oncology by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock valued at $18,051,000 after purchasing an additional 82,910 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cullinan Oncology by 49.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock worth $1,308,000 after acquiring an additional 42,204 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Cullinan Oncology by 52.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock valued at $225,000 after acquiring an additional 7,620 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Cullinan Oncology in the fourth quarter valued at $104,000. Finally, Blue Owl Capital Holdings LP bought a new position in Cullinan Oncology in the 4th quarter worth $34,848,000. 86.31% of the stock is currently 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.