Cullinan Oncology (NASDAQ:CGEM) Trading Up 5.9% After Analyst Upgrade

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s share price traded up 5.9% during mid-day trading on Thursday after Jonestrading raised their price target on the stock from $22.00 to $26.00. Jonestrading currently has a buy rating on the stock. Cullinan Oncology traded as high as $19.14 and last traded at $18.94. 60,437 shares traded hands during trading, a decline of 87% from the average session volume of 450,834 shares. The stock had previously closed at $17.88.

A number of other research firms have also recently issued reports on CGEM. HC Wainwright lowered their price objective on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. William Blair started coverage on Cullinan Oncology in a research note on Monday. They issued an “outperform” rating on the stock. Wedbush began coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, BTIG Research lifted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Oncology has a consensus rating of “Buy” and a consensus price target of $28.75.

Insider Activity

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 transaction of $563,600.00. Following the transaction, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 98,684 shares of company stock valued at $1,437,624 in the last ninety days. 8.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullinan Oncology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP acquired a new position in shares of Cullinan Oncology during the 4th quarter worth about $34,848,000. Franklin Resources Inc. raised its holdings in Cullinan Oncology by 13.5% in the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after acquiring an additional 390,505 shares during the period. Vanguard Group Inc. grew its holdings in Cullinan Oncology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company’s stock valued at $35,447,000 after buying an additional 19,486 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of 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 buying an additional 143,098 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 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. Institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Trading Up 5.9 %

The firm’s 50-day moving average is $17.29 and its 200 day moving average is $12.57. The firm has a market capitalization of $815.75 million, a price-to-earnings ratio of -5.15 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. Analysts predict that Cullinan Oncology, Inc. will post -3.6 EPS for the current year.

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.