Cullinan Oncology, Inc. (NASDAQ:CGEM) Receives $27.75 Average Price Target from Analysts

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM - Get Free Report) have been given an average recommendation of "Buy" by the six research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.75.

Several analysts have issued reports on CGEM shares. William Blair started coverage on shares of Cullinan Oncology in a research report on Monday. They issued an "outperform" rating on the stock. 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 target on the stock. HC Wainwright decreased their price target 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. Finally, BTIG Research lifted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday.

Insider Activity

In other news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $12.14, for a total transaction of $226,823.76. Following the sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,015,118.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 98,684 shares of company stock worth $1,437,624. Corporate insiders own 8.82% of the company's stock.

Hedge Funds Weigh In On Cullinan Oncology

Several institutional investors have recently added to or reduced their stakes in CGEM. Blue Owl Capital Holdings LP bought a new position in Cullinan Oncology during the 4th quarter valued at about $34,848,000. Assenagon Asset Management S.A. raised its stake in shares of Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company's stock worth $5,512,000 after acquiring an additional 482,234 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Cullinan Oncology by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company's stock worth $33,436,000 after acquiring an additional 390,505 shares during the last quarter. Millennium Management LLC raised its stake in shares of Cullinan Oncology by 2,959.3% in the second quarter. Millennium Management LLC now owns 321,684 shares of the company's stock worth $4,124,000 after acquiring an additional 311,169 shares during the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in shares of Cullinan Oncology in the fourth quarter worth about $3,057,000. 86.31% of the stock is owned by institutional investors.

Cullinan Oncology Stock Up 3.2 %

NASDAQ CGEM traded up $0.56 during midday trading on Wednesday, hitting $17.88. The company had a trading volume of 1,260,645 shares, compared to its average volume of 456,405. The stock has a market cap of $770.02 million, a price-to-earnings ratio of -4.85 and a beta of 0.33. The firm has a fifty day simple moving average of $17.29 and a two-hundred day simple moving average of $12.57. 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 posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.42. As a group, equities analysts predict that Cullinan Oncology will post -3.55 earnings per share for the current year.

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.