Cullinan Oncology (NASDAQ:CGEM) Receives New Coverage from Analysts at William Blair

Equities research analysts at William Blair began coverage on shares of Cullinan Oncology (NASDAQ:CGEM - Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an "outperform" rating on the stock.

A number of other research analysts have also commented on CGEM. Wedbush began coverage on Cullinan Oncology in a report on Thursday, February 15th. They set an "outperform" rating and a $30.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $34.00 target price on shares of Cullinan Oncology in a report on Thursday, March 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology has an average rating of "Buy" and an average target price of $28.67.

Cullinan Oncology Price Performance

CGEM traded down $0.12 during trading hours on Monday, hitting $16.55. 202,457 shares of the stock were exchanged, compared to its average volume of 404,986. The stock has a 50-day simple moving average of $17.35 and a 200-day simple moving average of $12.42. Cullinan Oncology has a 12 month low of $7.64 and a 12 month high of $19.68. The stock has a market cap of $712.81 million, a price-to-earnings ratio of -4.49 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data 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. Sell-side analysts expect that Cullinan Oncology will post -3.55 EPS for the current year.

Insider Activity

In other news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,338,799.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 98,684 shares of company stock worth $1,437,624 in the last three months. 8.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CGEM. Nuveen Asset Management LLC increased its position in Cullinan Oncology by 1.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company's stock worth $1,376,000 after buying an additional 1,347 shares during the period. Rhumbline Advisers increased its position in Cullinan Oncology by 4.7% in the 1st 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 period. Alliancebernstein L.P. increased its position in Cullinan Oncology by 5.6% in the 4th 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 period. SG Americas Securities LLC increased its position in Cullinan Oncology by 12.3% in the 4th 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 period. Finally, California State Teachers Retirement System increased its position in Cullinan Oncology by 7.9% in the 2nd 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 period. 86.31% of the stock is owned by institutional investors.

Cullinan Oncology Company Profile

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.