Cullinan Oncology, Inc. (NASDAQ:CGEM) Expected to Post Q1 2024 Earnings of ($0.92) Per Share

Cullinan Oncology, Inc. (NASDAQ:CGEM - Free Report) - Equities research analysts at William Blair issued their Q1 2024 earnings per share estimates for shares of Cullinan Oncology in a report issued on Monday, April 15th. William Blair analyst M. Phipps forecasts that the company will post earnings of ($0.92) per share for the quarter. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Cullinan Oncology's current full-year earnings is ($3.55) per share. William Blair also issued estimates for Cullinan Oncology's 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.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last released 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 weighed in on CGEM. Wedbush began coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an "outperform" rating and a $30.00 price target for the company. BTIG Research upped their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, HC Wainwright dropped their price objective on Cullinan Oncology from $34.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $27.75.

Cullinan Oncology Price Performance

NASDAQ:CGEM traded up $0.56 during trading hours on Wednesday, reaching $17.88. 1,260,645 shares of the stock were exchanged, compared to its average volume of 456,405. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62. The firm has a 50 day moving average of $17.29 and a 200 day moving average of $12.57. The stock has a market cap of $770.02 million, a PE ratio of -4.85 and a beta of 0.33.

Insider Activity at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the company's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.09, for a total value of $563,600.00. Following the transaction, the insider now directly owns 165,990 shares of the company's stock, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 98,684 shares of company stock worth $1,437,624. Company insiders own 8.82% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Owl Capital Holdings LP acquired a new position in Cullinan Oncology in the 4th quarter valued at $34,848,000. Franklin Resources Inc. grew its holdings in shares of Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company's stock worth $33,436,000 after purchasing an additional 390,505 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cullinan Oncology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company's stock worth $35,447,000 after purchasing an additional 19,486 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cullinan Oncology by 6.4% during the 3rd quarter. BlackRock Inc. now owns 2,374,825 shares of the company's stock worth $30,445,000 after purchasing an additional 143,098 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cullinan Oncology by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 915,758 shares of the company's stock worth $9,332,000 after purchasing an additional 117,042 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

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.