Cullinan Oncology (NASDAQ:CGEM) PT Lowered to $29.00 at HC Wainwright

Cullinan Oncology (NASDAQ:CGEM) had its price objective reduced by HC Wainwright from $34.00 to $29.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.67) EPS, 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.

CGEM has been the subject of several other reports. Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They issued an outperform rating and a $30.00 target price for the company. William Blair started coverage on Cullinan Oncology in a research note on Monday. They issued an outperform rating for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $28.75.

Cullinan Oncology Stock Up 1.0 %

NASDAQ CGEM opened at $18.06 on Tuesday. The business’s fifty day simple moving average is $17.29 and its 200-day simple moving average is $12.60. The firm has a market cap of $777.84 million, a PE ratio of -4.89 and a beta of 0.33. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last released its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. Research analysts expect that Cullinan Oncology will post -3.6 EPS for the current year.

Insider Activity

In related news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the sale, the insider now owns 165,990 shares in the company, valued at $2,338,799.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several institutional investors have recently added to or reduced their stakes in the business. Blue Owl Capital Holdings LP purchased a new stake in Cullinan Oncology during the fourth quarter worth approximately $34,848,000. Franklin Resources Inc. lifted its stake in Cullinan Oncology by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after purchasing an additional 390,505 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cullinan Oncology by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company’s stock worth $35,447,000 after purchasing an additional 19,486 shares during the last quarter. BlackRock Inc. lifted its stake in Cullinan Oncology by 6.4% during the third quarter. BlackRock Inc. now owns 2,374,825 shares of the company’s stock worth $30,445,000 after purchasing an additional 143,098 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cullinan Oncology by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 915,758 shares of the company’s stock worth $9,332,000 after purchasing an additional 117,042 shares during the last quarter. Hedge funds and other 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.