Cullinan Oncology (NASDAQ:CGEM) Stock Price Up 5.9% on Analyst Upgrade

Cullinan Oncology, Inc. (NASDAQ:CGEM) shot up 5.9% on Thursday after Jonestrading raised their price target on the stock from $22.00 to $26.00. Jonestrading currently has a buy rating on the stock. Cullinan Oncology traded as high as $19.14 and last traded at $18.94. 60,437 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 450,834 shares. The stock had previously closed at $17.88.

CGEM has been the subject of several other research reports. William Blair began coverage on Cullinan Oncology in a report on Monday. They issued an “outperform” rating for the company. HC Wainwright dropped their price objective on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. Wedbush began coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, BTIG Research increased their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cullinan Oncology currently has a consensus rating of “Buy” and a consensus price target of $28.75.

Insider Transactions at Cullinan Oncology

In other news, insider Corrine Savill sold 18,684 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total value of $226,823.76. Following the completion of the transaction, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 98,684 shares of company stock valued at $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Public Employees Retirement System of Ohio bought a new stake in shares of Cullinan Oncology in the 2nd quarter worth $53,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cullinan Oncology by 352.4% in 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 in the last quarter. Point72 Middle East FZE bought a new stake in shares of Cullinan Oncology in the 2nd quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cullinan Oncology by 1,331.5% in the 3rd 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. Finally, Royal Bank of Canada increased its holdings in shares of Cullinan Oncology by 499.8% in the 2nd 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 in the last quarter. Institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Stock Performance

The firm has a market cap of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33. The stock has a fifty day simple moving average of $17.29 and a 200 day simple moving average of $12.60.

Cullinan Oncology (NASDAQ:CGEM) last posted its 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. Research analysts predict that Cullinan Oncology, Inc. will post -3.6 earnings per share 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.