Q2 2024 EPS Estimates for Cullinan Oncology, Inc. (NASDAQ:CGEM) Boosted by Analyst

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Analysts at William Blair lifted their Q2 2024 earnings estimates for Cullinan Oncology in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst M. Phipps now expects that the company will earn ($0.75) per share for the quarter, up from their previous estimate of ($0.95). William Blair has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. William Blair also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($3.03) EPS and FY2027 earnings at ($2.98) EPS.

CGEM has been the subject of several other research reports. Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price for the company. BTIG Research upped their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Jonestrading increased their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright cut their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology has an average rating of “Buy” and an average price target of $28.75.

Cullinan Oncology Trading Down 13.3 %

Shares of Cullinan Oncology stock opened at $15.66 on Friday. The stock has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $12.66. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62. The company has a market capitalization of $674.48 million, a P/E ratio of -4.24 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

Insiders Place Their Bets

In other news, insider Corrine Savill sold 18,684 shares of the 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 transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have 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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cullinan Oncology by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock worth $18,051,000 after acquiring an additional 82,910 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Cullinan Oncology by 49.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock worth $1,308,000 after acquiring an additional 42,204 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cullinan Oncology by 52.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock worth $225,000 after acquiring an additional 7,620 shares during the period. GSA Capital Partners LLP bought a new position in shares of Cullinan Oncology during the 4th quarter worth $104,000. Finally, Blue Owl Capital Holdings LP bought a new position in shares of Cullinan Oncology during the 4th quarter worth $34,848,000. Institutional investors own 86.31% of the company’s stock.

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.