Cullinan Oncology (NASDAQ:CGEM) Coverage Initiated at William Blair

William Blair assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a report published on Monday, Marketbeat.com reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for Cullinan Oncology’s Q1 2024 earnings at ($0.92) EPS, Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

A number of other brokerages have also recently commented on CGEM. Wedbush initiated coverage on Cullinan Oncology in a research report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target on the stock. HC Wainwright reiterated a buy rating and issued a $34.00 target price on shares of Cullinan Oncology in a research report on Thursday, March 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average price target of $28.75.

Cullinan Oncology Stock Performance

Shares of NASDAQ CGEM opened at $18.06 on Monday. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62. The stock has a market capitalization of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33. The stock’s fifty day moving average is $17.29 and its 200 day moving average is $12.60.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. Equities research analysts forecast that Cullinan Oncology will post -3.6 earnings per share for the current year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the transaction, the insider now owns 165,990 shares in the company, valued at $2,685,718.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 98,684 shares of company stock worth $1,437,624 over the last 90 days. Insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

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

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.