Cullinan Oncology (NASDAQ:CGEM) Now Covered by Analysts at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 48.09% from the stock’s previous close.

A number of other equities analysts also recently issued reports on CGEM. BTIG Research increased their target price on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. HC Wainwright reduced their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Wedbush initiated coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target for the company. Jonestrading boosted their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, William Blair began coverage on shares of Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $31.00.

Cullinan Oncology Price Performance

NASDAQ:CGEM opened at $27.01 on Wednesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.32 and a beta of 0.33. The firm’s fifty day moving average price is $17.50 and its 200 day moving average price is $13.21. Cullinan Oncology has a 1-year low of $7.64 and a 1-year high of $29.12.

Cullinan Oncology (NASDAQ:CGEM) last issued its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, analysts expect that Cullinan Oncology will post -3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the sale, the insider now directly owns 165,990 shares in the company, valued at $2,685,718.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullinan Oncology

Institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in Cullinan Oncology by 352.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after acquiring an additional 3,859 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 6,085 shares during the period. Vontobel Holding Ltd. acquired a new stake in Cullinan Oncology in the 4th quarter worth about $102,000. Bailard Inc. purchased a new stake in Cullinan Oncology in the 4th quarter valued at about $110,000. Finally, Annandale Capital LLC increased its stake in shares of Cullinan Oncology by 20.0% during the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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.