Q2 2024 EPS Estimates for Cullinan Oncology, Inc. (NASDAQ:CGEM) Raised by Analyst

Cullinan Oncology, Inc. (NASDAQ:CGEM) – William Blair boosted their Q2 2024 EPS estimates for shares of Cullinan Oncology in a report released on Tuesday, April 16th. William Blair analyst M. Phipps now expects that the company will post earnings of ($0.75) per share for the quarter, up from their prior forecast of ($0.95). William Blair has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. William Blair also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($3.03) EPS and FY2027 earnings at ($2.98) EPS.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

A number of other research firms also recently commented on CGEM. BTIG Research boosted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush began coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price on the stock. HC Wainwright dropped their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Jonestrading increased their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology has an average rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Trading Up 1.0 %

NASDAQ CGEM opened at $18.06 on Friday. The company’s 50 day simple moving average is $17.29 and its 200 day simple moving average is $12.60. Cullinan Oncology has a 12 month low of $7.64 and a 12 month high of $20.62.

Institutional Investors Weigh In On Cullinan Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in CGEM. Blue Owl Capital Holdings LP bought a new stake in shares of Cullinan Oncology during the fourth quarter worth $34,848,000. Assenagon Asset Management S.A. increased its holdings in shares of Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after acquiring an additional 482,234 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Cullinan Oncology by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after acquiring an additional 390,505 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Cullinan Oncology by 2,959.3% in the second quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock worth $4,124,000 after acquiring an additional 311,169 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Cullinan Oncology in the 4th quarter valued at approximately $3,057,000. Institutional investors own 86.31% of the company’s stock.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 18,684 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total value of $226,823.76. Following the sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by corporate insiders.

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.