Q2 2024 EPS Estimates for Cullinan Oncology, Inc. (NASDAQ:CGEM) Boosted by HC Wainwright

Cullinan Oncology, Inc. (NASDAQ:CGEM - Free Report) - Analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst E. White now expects that the company will post earnings of ($0.67) per share for the quarter, up from their previous forecast of ($0.98). HC Wainwright currently has a "Buy" rating and a $29.00 target price on the stock. The consensus estimate for Cullinan Oncology's current full-year earnings is ($3.60) per share. HC Wainwright also issued estimates for Cullinan Oncology's Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($3.06) EPS, FY2025 earnings at ($2.52) EPS and FY2026 earnings at ($2.96) EPS.

CGEM has been the subject of several other reports. Jonestrading increased their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday. Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an "outperform" rating and a $30.00 price objective for the company. BTIG Research increased their target price on Cullinan Oncology from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, William Blair began coverage on Cullinan Oncology in a research note on Monday. They issued an "outperform" rating on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $28.75.

Cullinan Oncology Price Performance

NASDAQ CGEM traded up $0.18 during trading on Thursday, reaching $18.06. The company's stock had a trading volume of 702,320 shares, compared to its average volume of 459,683. The firm has a fifty day moving average of $17.29 and a 200 day moving average of $12.60. Cullinan Oncology has a one year low of $7.64 and a one year high of $20.62. The stock has a market capitalization of $777.84 million, a PE ratio of -4.89 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.96) by $0.42.

Institutional Trading of Cullinan Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in CGEM. Nuveen Asset Management LLC boosted its stake in shares of Cullinan Oncology by 1.3% in 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 boosted its stake in Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company's stock worth $336,000 after buying an additional 1,445 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Cullinan Oncology by 5.6% during the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company's stock worth $298,000 after buying an additional 1,500 shares during the last quarter. SG Americas Securities LLC boosted its stake in Cullinan Oncology by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company's stock worth $147,000 after buying an additional 1,587 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Cullinan Oncology by 7.9% during the second quarter. California State Teachers Retirement System now owns 23,485 shares of the company's stock worth $253,000 after buying an additional 1,719 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Corrine Savill sold 40,000 shares of the firm's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.09, for a total value of $563,600.00. Following the completion of the transaction, the insider now directly owns 165,990 shares in the company, valued at $2,338,799.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is currently 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.