Cullinan Oncology (NASDAQ:CGEM) PT Raised to $26.00 at Jonestrading

Cullinan Oncology (NASDAQ:CGEM) had its target price hoisted by Jonestrading from $22.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jonestrading’s target price points to a potential upside of 43.96% from the stock’s previous close.

Other analysts also recently issued reports about the company. BTIG Research increased their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. William Blair initiated coverage on shares of Cullinan Oncology in a research report on Monday. They issued an “outperform” rating for the company. HC Wainwright reduced their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush initiated coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology presently has an average rating of “Buy” and an average price target of $28.75.

Cullinan Oncology Stock Performance

CGEM stock opened at $18.06 on Wednesday. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The stock’s 50 day moving average price is $17.29 and its 200 day moving average price is $12.60. The firm has a market cap of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33.

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

Insider Buying and Selling

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 98,684 shares of company stock valued at $1,437,624. Company insiders own 8.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGEM. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cullinan Oncology by 352.4% during the 4th 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 period. Public Employees Retirement System of Ohio bought a new stake in shares of Cullinan Oncology during the second quarter valued at approximately $53,000. Point72 Middle East FZE bought a new stake in shares of Cullinan Oncology during the second quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $59,000 after purchasing an additional 6,085 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in 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 buying an additional 7,492 shares during the period. Institutional investors own 86.31% of the company’s stock.

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.