Cullinan Oncology, Inc. (NASDAQ:CGEM) Short Interest Update

Cullinan Oncology, Inc. (NASDAQ:CGEM) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,680,000 shares, an increase of 16.7% from the March 31st total of 1,440,000 shares. Based on an average daily trading volume, of 537,900 shares, the days-to-cover ratio is currently 3.1 days. Approximately 6.4% of the shares of the stock are short sold.

Cullinan Oncology Stock Performance

NASDAQ:CGEM opened at $27.01 on Wednesday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.32 and a beta of 0.33. Cullinan Oncology has a one year low of $7.64 and a one year high of $29.12. The stock has a 50-day simple moving average of $17.50 and a 200 day simple moving average of $13.21.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results 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, equities research analysts forecast that Cullinan Oncology will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total transaction of $647,200.00. Following the transaction, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullinan Oncology

A number of large investors have recently bought and sold shares of CGEM. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Oncology by 352.4% during 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 purchasing an additional 6,085 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Cullinan Oncology during the fourth quarter worth approximately $102,000. Bailard Inc. bought a new stake in Cullinan Oncology during the fourth quarter worth approximately $110,000. Finally, Annandale Capital LLC grew its position in Cullinan Oncology by 20.0% in the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CGEM. HC Wainwright cut their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Wedbush began coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target for the company. BTIG Research increased their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Jonestrading raised their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, William Blair started coverage on Cullinan Oncology in a research note on Monday, April 15th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Oncology has an average rating of “Buy” and an average target price of $28.75.

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.