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

Cullinan Oncology, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $28.75.

A number of brokerages have recently commented on CGEM. William Blair began coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating for the company. Wedbush began coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target for the company. BTIG Research lifted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Jonestrading lifted their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, HC Wainwright lowered their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 16th.

Insider Activity at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of the business’s 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 sale, the insider now directly owns 165,990 shares in the company, valued at $2,685,718.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. SG Americas Securities LLC acquired a new position in Cullinan Oncology during the third quarter valued at approximately $116,000. Bank of New York Mellon Corp lifted its position in shares of Cullinan Oncology by 11.5% during the third quarter. Bank of New York Mellon Corp now owns 97,159 shares of the company’s stock worth $879,000 after purchasing an additional 9,989 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cullinan Oncology by 380.1% during the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after purchasing an additional 482,234 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Cullinan Oncology by 145.6% during the third quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Oncology Trading Up 6.7 %

Shares of CGEM opened at $16.67 on Wednesday. The stock has a market cap of $717.98 million, a P/E ratio of -4.52 and a beta of 0.33. The company has a 50-day moving average of $17.14 and a two-hundred day moving average of $12.82. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. As a group, analysts forecast that Cullinan Oncology will post -3.21 EPS for the current fiscal year.

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.