Cullinan Oncology (NASDAQ:CGEM) Earns Buy Rating from Analysts at BTIG Research

BTIG Research assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEMGet Rating) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Cullinan Oncology Trading Up 1.6 %

Shares of NASDAQ CGEM opened at $13.41 on Monday. Cullinan Oncology has a 12-month low of $7.30 and a 12-month high of $19.21. The company has a market cap of $611.63 million, a price-to-earnings ratio of 6.04 and a beta of -0.09. The stock’s 50 day simple moving average is $12.58 and its 200 day simple moving average is $12.73.

Cullinan Oncology (NASDAQ:CGEMGet Rating) last posted its earnings results on Monday, November 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.43. As a group, equities analysts forecast that Cullinan Oncology will post -3.67 earnings per share for the current fiscal year.

Insider Activity at Cullinan Oncology

In related news, insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $12.40, for a total value of $49,600.00. Following the sale, the insider now directly owns 53,031 shares in the company, valued at approximately $657,584.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullinan Oncology

Hedge funds have recently modified their holdings of the company. Rock Springs Capital Management LP increased its position in shares of Cullinan Oncology by 1.0% during the 1st quarter. Rock Springs Capital Management LP now owns 652,578 shares of the company’s stock valued at $6,832,000 after purchasing an additional 6,500 shares during the period. Rubric Capital Management LP boosted its stake in shares of Cullinan Oncology by 88.2% during the 3rd quarter. Rubric Capital Management LP now owns 559,737 shares of the company’s stock worth $7,176,000 after acquiring an additional 262,390 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Cullinan Oncology during the 3rd quarter worth $538,000. Nisa Investment Advisors LLC boosted its stake in shares of Cullinan Oncology by 24.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 17,241 shares of the company’s stock worth $222,000 after acquiring an additional 3,341 shares in the last quarter. Finally, Silverarc Capital Management LLC boosted its stake in shares of Cullinan Oncology by 5.4% during the 3rd quarter. Silverarc Capital Management LLC now owns 224,555 shares of the company’s stock worth $2,879,000 after acquiring an additional 11,465 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

About Cullinan Oncology

(Get Rating)

Cullinan Oncology Inc, a biopharmaceutical company, focuses on developing a pipeline of targeted oncology and immuno-oncology therapies for cancer patients in the United States. The company's lead candidate is the CLN-081, an orally available small molecule that is in a Phase I/IIa dose escalation and expansion trial for treating patients with non-small cell lung cancer.

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