Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.89 and last traded at $21.36, with a volume of 288839 shares trading hands. The stock had previously closed at $19.25.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on CGEM shares. William Blair started coverage on shares of Cullinan Oncology in a research report on Monday, April 15th. They issued an "outperform" rating on the stock. HC Wainwright cut their price objective 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. Wedbush started coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They issued an "outperform" rating and a $30.00 price objective on the stock. Jonestrading boosted their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. Finally, BTIG Research boosted their price objective on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Oncology has an average rating of "Buy" and a consensus target price of $28.75.
Get Our Latest Stock Report on CGEM
Cullinan Oncology Trading Up 31.4 %
The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.86 and a beta of 0.33. The firm's 50 day moving average price is $17.32 and its two-hundred day moving average price is $13.03.
Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating analysts' consensus estimates of ($0.96) by $0.42. As a group, equities research analysts predict that Cullinan Oncology, Inc. will post -3.21 EPS for the current year.
Insider Activity at Cullinan Oncology
In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the 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 in the company, valued at approximately $2,338,799.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.82% of the stock is owned by company insiders.
Institutional Trading of Cullinan Oncology
A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Cullinan Oncology by 12.3% during the 4th quarter. SG Americas Securities LLC now owns 14,449 shares of the company's stock worth $147,000 after acquiring an additional 1,587 shares during the period. Annandale Capital LLC lifted its stake in Cullinan Oncology by 20.0% in the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company's stock valued at $109,000 after purchasing an additional 2,000 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Cullinan Oncology by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,076 shares of the company's stock valued at $143,000 after purchasing an additional 3,569 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 3,859 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cullinan Oncology by 1,331.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company's stock valued at $59,000 after purchasing an additional 6,085 shares during the last quarter. Institutional investors own 86.31% of the company's stock.
Cullinan Oncology Company Profile
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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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