William Blair Weighs in on Cullinan Oncology, Inc.’s Q1 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at William Blair issued their Q1 2024 earnings estimates for shares of Cullinan Oncology in a research note issued on Monday, April 15th. William Blair analyst M. Phipps expects that the company will earn ($0.92) per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.60) per share. William Blair also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

Cullinan Oncology (NASDAQ:CGEM) last released its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42.

Other research analysts have also issued reports about the stock. HC Wainwright cut their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. BTIG Research increased their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Jonestrading increased their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Price Performance

Shares of CGEM stock opened at $18.06 on Wednesday. The firm has a market cap of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33. Cullinan Oncology has a 1-year low of $7.64 and a 1-year high of $20.62. The firm’s 50-day simple moving average is $17.29 and its 200-day simple moving average is $12.60.

Institutional Trading of Cullinan Oncology

Several large investors have recently bought and sold shares of the company. Nuveen Asset Management LLC grew its position in Cullinan Oncology by 1.3% in the third quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after acquiring an additional 1,347 shares in the last quarter. Rhumbline Advisers grew its position in Cullinan Oncology by 4.7% in the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after acquiring an additional 1,445 shares in the last quarter. Alliancebernstein L.P. grew its position in Cullinan Oncology by 5.6% in the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock valued at $298,000 after acquiring an additional 1,500 shares in the last quarter. SG Americas Securities LLC grew its position in Cullinan Oncology by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after acquiring an additional 1,587 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Cullinan Oncology by 7.9% during the second quarter. California State Teachers Retirement System now owns 23,485 shares of the company’s stock worth $253,000 after buying an additional 1,719 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total transaction of $647,200.00. Following the completion of the sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is currently owned by corporate insiders.

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.