Cullinan Oncology, Inc. (NASDAQ:CGEM – Get Free Report) shares gapped up before the market opened on Wednesday after Jonestrading raised their price target on the stock from $22.00 to $26.00. The stock had previously closed at $17.32, but opened at $18.01. Jonestrading currently has a buy rating on the stock. Cullinan Oncology shares last traded at $19.26, with a volume of 226,396 shares traded.
A number of other research analysts have also issued reports on CGEM. William Blair began coverage on Cullinan Oncology in a research report on Monday. They set an “outperform” rating for the company. HC Wainwright reduced their price target on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday. Wedbush began coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target for the company. Finally, BTIG Research boosted their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $28.75.
Read Our Latest Stock Report on CGEM
Insider Activity
Institutional Trading of Cullinan Oncology
Institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after buying an additional 3,859 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Cullinan Oncology during the second quarter valued at $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $59,000 after purchasing an additional 6,085 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of Cullinan Oncology during the second quarter valued at $59,000. Finally, Royal Bank of Canada lifted 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 valued at $97,000 after purchasing an additional 7,492 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.
Cullinan Oncology Price Performance
The firm has a market capitalization of $777.84 million, a PE ratio of -4.89 and a beta of 0.33. The firm has a fifty day moving average price of $17.29 and a 200 day moving average price of $12.60.
Cullinan Oncology (NASDAQ:CGEM – Get Free Report) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. On average, sell-side analysts expect that Cullinan Oncology, Inc. will post -3.6 EPS for the current 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.
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