Cullinan Oncology (NASDAQ:CGEM) Price Target Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEMFree Report) had its price target boosted by BTIG Research from $20.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. William Blair began coverage on shares of Cullinan Oncology in a research note on Monday, April 15th. They set an outperform rating on the stock. HC Wainwright reduced their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Finally, Wedbush assumed coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an outperform rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $28.75.

Read Our Latest Stock Report on Cullinan Oncology

Cullinan Oncology Stock Performance

Shares of NASDAQ CGEM opened at $15.66 on Wednesday. The firm has a market cap of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The stock’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $12.69.

Cullinan Oncology (NASDAQ:CGEMGet Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.42. As a group, research analysts predict that Cullinan Oncology will post -3.21 EPS for the current year.

Insiders Place Their Bets

In related news, insider Corrine Savill sold 18,684 shares of the stock in a transaction dated 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 owns 165,990 shares in the company, valued at $2,015,118.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 98,684 shares of company stock valued at $1,437,624. Company insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

Several large investors have recently added to or reduced their stakes in CGEM. Nuveen Asset Management LLC grew its position 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 worth $1,376,000 after acquiring an additional 1,347 shares during the last quarter. Rhumbline Advisers grew its position in Cullinan Oncology by 4.7% in the 1st quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock worth $336,000 after purchasing an additional 1,445 shares during the last quarter. Alliancebernstein L.P. grew its position in Cullinan Oncology by 5.6% in the 4th quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock worth $298,000 after purchasing an additional 1,500 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cullinan Oncology by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after purchasing an additional 1,587 shares during the period. Finally, California State Teachers Retirement System raised 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 institutional investors and hedge funds.

Cullinan Oncology Company Profile

(Get Free Report)

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.

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