Cullinan Oncology, Inc. (NASDAQ:CGEM) Insider Sells $1,628,060.00 in Stock

Cullinan Oncology, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 58,000 shares of Cullinan Oncology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.07, for a total transaction of $1,628,060.00. Following the completion of the sale, the insider now directly owns 129,582 shares of the company’s stock, valued at approximately $3,637,366.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cullinan Oncology Stock Down 5.6 %

Shares of CGEM traded down $1.63 during mid-day trading on Wednesday, hitting $27.72. 1,031,661 shares of the company’s stock traded hands, compared to its average volume of 620,902. Cullinan Oncology, Inc. has a 1 year low of $7.64 and a 1 year high of $30.19. The firm has a market capitalization of $1.19 billion, a P/E ratio of -7.95 and a beta of -0.01. The business’s 50-day moving average price is $18.76 and its 200-day moving average price is $14.03.

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. Sell-side analysts anticipate that Cullinan Oncology, Inc. will post -3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cullinan Oncology

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

Analyst Ratings Changes

Several equities analysts recently weighed in on CGEM shares. Wedbush assumed coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target on the stock. William Blair initiated coverage on Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating for the company. HC Wainwright decreased their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Stifel Nicolaus assumed coverage on shares of Cullinan Oncology in a research note on Wednesday, May 1st. They issued a “buy” rating and a $40.00 price objective for the company. 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 research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.00.

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.