Cullinan Oncology (NASDAQ:CGEM) Coverage Initiated at William Blair

William Blair started coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for Cullinan Oncology’s Q1 2024 earnings at ($0.92) EPS, 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.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a buy rating and issued a $34.00 price objective on shares of Cullinan Oncology in a report on Thursday, March 14th. Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an outperform rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and an average target price of $28.75.

Cullinan Oncology Stock Performance

CGEM opened at $18.06 on Monday. The stock has a market capitalization of $777.84 million, a P/E ratio of -4.89 and a beta of 0.33. The company’s 50-day simple moving average is $17.29 and its two-hundred day simple moving average is $12.60. Cullinan Oncology has a 52-week low of $7.64 and a 52-week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42. Research analysts forecast that Cullinan Oncology will post -3.6 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other news, insider Corrine Savill sold 18,684 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $12.14, for a total transaction of $226,823.76. Following the sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,015,118.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 98,684 shares of company stock valued at $1,437,624 over the last 90 days. 8.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Oncology

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cullinan Oncology by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock worth $18,051,000 after buying an additional 82,910 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cullinan Oncology by 49.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock valued at $1,308,000 after acquiring an additional 42,204 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Cullinan Oncology by 52.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock worth $225,000 after purchasing an additional 7,620 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Cullinan Oncology in the fourth quarter worth about $104,000. Finally, Blue Owl Capital Holdings LP purchased a new position in shares of Cullinan Oncology during the fourth quarter worth approximately $34,848,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.