Jonestrading Boosts Cullinan Oncology (NASDAQ:CGEM) Price Target to $26.00

Cullinan Oncology (NASDAQ:CGEM) had its target price upped by Jonestrading from $22.00 to $26.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. William Blair assumed coverage on shares of Cullinan Oncology in a research note on Monday, April 15th. They issued an outperform rating for the company. Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an outperform rating and a $30.00 price objective for the company. HC Wainwright reduced their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a research note on Tuesday. Finally, BTIG Research boosted their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Oncology has an average rating of Buy and a consensus price target of $28.75.

Cullinan Oncology Stock Performance

Cullinan Oncology stock opened at $15.66 on Wednesday. The company has a 50 day moving average price of $17.23 and a 200-day moving average price of $12.66. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $20.62. The company has a market capitalization of $674.48 million, a PE ratio of -4.24 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. On average, analysts forecast that Cullinan Oncology will post -3.36 earnings per share for the current year.

Insiders Place Their Bets

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cullinan Oncology

A number of large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its holdings in shares of Cullinan Oncology by 1.3% during the third quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after buying an additional 1,347 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after buying an additional 1,445 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Cullinan Oncology by 5.6% during the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock valued at $298,000 after buying an additional 1,500 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cullinan Oncology by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after buying an additional 1,587 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings 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 valued at $253,000 after buying an additional 1,719 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other 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.