Cullinan Oncology, Inc. to Post Q1 2024 Earnings of ($0.72) Per Share, Wedbush Forecasts (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Equities research analysts at Wedbush increased their Q1 2024 EPS estimates for Cullinan Oncology in a research note issued to investors on Tuesday, April 16th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($0.72) for the quarter, up from their previous forecast of ($0.97). Wedbush has a “Outperform” rating and a $30.00 price objective on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. Wedbush also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.73) EPS, Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($3.13) EPS, FY2026 earnings at ($3.21) EPS, FY2027 earnings at ($2.86) EPS and FY2028 earnings at ($0.27) EPS.

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

A number of other equities analysts have also commented on the stock. BTIG Research raised their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright dropped their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday. Jonestrading boosted their price target on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, William Blair began coverage on Cullinan Oncology in a research note on Monday, April 15th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Stock Performance

CGEM opened at $15.66 on Thursday. The stock has a fifty day moving average of $17.23 and a 200-day moving average of $12.66. 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 has a fifty-two week low of $7.64 and a fifty-two week high of $20.62.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 98,684 shares of company stock valued at $1,437,624. Company insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Cullinan Oncology during the second quarter worth about $53,000. China Universal Asset Management Co. Ltd. boosted its position in Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after buying an additional 3,859 shares in the last quarter. Point72 Middle East FZE bought a new stake in shares of Cullinan Oncology during the second quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after buying an additional 6,085 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Cullinan Oncology by 499.8% in 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 last quarter. 86.31% of the stock is currently owned by institutional investors.

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.