Cullinan Oncology (NASDAQ:CGEM) Price Target Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEM) had its price target increased by BTIG Research from $20.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on CGEM. Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target on the stock. William Blair started coverage on shares of Cullinan Oncology in a report on Monday. They issued an outperform rating on the stock. Finally, HC Wainwright cut their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus price target of $27.75.

Cullinan Oncology Stock Up 3.2 %

Shares of NASDAQ CGEM opened at $17.88 on Wednesday. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62. The firm’s fifty day moving average is $17.29 and its 200 day moving average is $12.57. The company has a market cap of $770.02 million, a price-to-earnings ratio of -4.85 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. Equities research analysts anticipate that Cullinan Oncology will post -3.55 earnings per share for the current year.

Insider Activity

In related news, insider Corrine Savill sold 18,684 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $12.14, for a total value of $226,823.76. Following the transaction, the insider now 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 the SEC website. In the last 90 days, insiders have sold 98,684 shares of company stock worth $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

Hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in 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. Public Employees Retirement System of Ohio bought a new position in Cullinan Oncology during the 2nd quarter valued at about $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cullinan Oncology by 1,331.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares during the period. Point72 Middle East FZE bought a new position in Cullinan Oncology during the 2nd quarter valued at about $59,000. Finally, Royal Bank of Canada lifted its stake in Cullinan Oncology by 499.8% during the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after acquiring an additional 7,492 shares during the period. Institutional investors own 86.31% 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.