HC Wainwright Weighs in on Cullinan Oncology, Inc.’s Q2 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Investment analysts at HC Wainwright boosted their Q2 2024 EPS estimates for shares of Cullinan Oncology in a research report issued to clients and investors on Tuesday, April 16th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($0.67) per share for the quarter, up from their prior forecast of ($0.98). HC Wainwright currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) per share. HC Wainwright also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($3.06) EPS, FY2025 earnings at ($2.52) EPS and FY2026 earnings at ($2.96) EPS.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data 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.

CGEM has been the topic of several other research reports. BTIG Research boosted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair initiated coverage on shares of Cullinan Oncology in a research report on Monday. They set an “outperform” rating on the stock. 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 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.75.

Cullinan Oncology Stock Up 3.2 %

Shares of Cullinan Oncology stock opened at $17.88 on Thursday. The firm’s 50 day moving average price is $17.29 and its 200-day moving average price is $12.57. Cullinan Oncology has a 52-week low of $7.64 and a 52-week high of $20.62. The company has a market cap of $770.02 million, a P/E ratio of -4.85 and a beta of 0.33.

Institutional Trading of Cullinan Oncology

Several institutional investors and hedge funds have recently bought and sold shares of CGEM. Blue Owl Capital Holdings LP acquired a new stake in Cullinan Oncology during the 4th quarter valued at approximately $34,848,000. Assenagon Asset Management S.A. lifted its stake in Cullinan Oncology by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after acquiring an additional 482,234 shares during the period. Franklin Resources Inc. lifted its stake in Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after acquiring an additional 390,505 shares during the period. Millennium Management LLC lifted its stake in shares of Cullinan Oncology by 2,959.3% in the 2nd quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock valued at $4,124,000 after purchasing an additional 311,169 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Cullinan Oncology in the 4th quarter valued at $3,057,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $12.14, for a total transaction of $226,823.76. Following the completion of the sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,015,118.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 98,684 shares of company stock worth $1,437,624. Company insiders own 8.82% 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.