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

Cullinan Oncology (NASDAQ:CGEM - Free Report) had its price target hoisted by BTIG Research from $20.00 to $30.00 in a research report released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. William Blair assumed coverage on shares of Cullinan Oncology in a report on Monday. They issued an outperform rating on the stock. HC Wainwright cut their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a buy rating on the stock in a report on Tuesday. Finally, Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an outperform rating and a $30.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $27.75.

Cullinan Oncology Trading Up 3.2 %

Shares of Cullinan Oncology stock traded up $0.56 during trading on Wednesday, reaching $17.88. The company's stock had a trading volume of 1,260,645 shares, compared to its average volume of 456,405. The company has a 50-day moving average price of $17.30 and a two-hundred day moving average price of $12.53. The firm has a market cap of $770.02 million, a PE ratio of -4.88 and a beta of 0.33. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $20.62.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last announced its 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. On average, analysts predict that Cullinan Oncology will post -3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the business's stock in a transaction on Monday, January 29th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several institutional investors have recently made changes to their positions in CGEM. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $50,000 after buying an additional 3,859 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Cullinan Oncology in the 2nd quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cullinan Oncology by 1,331.5% in the 3rd 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 in the last quarter. Point72 Middle East FZE acquired a new position in shares of Cullinan Oncology during the 2nd quarter valued at about $59,000. Finally, Royal Bank of Canada increased its stake in shares of Cullinan Oncology by 499.8% during the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company's stock valued at $97,000 after acquiring an additional 7,492 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.