Cullinan Oncology (NASDAQ:CGEM) Trading Down 3.3%

Cullinan Oncology, Inc. (NASDAQ:CGEM - Get Free Report)'s stock price dropped 3.3% on Friday . The stock traded as low as $17.47 and last traded at $17.47. Approximately 74,570 shares changed hands during trading, a decline of 84% from the average daily volume of 454,476 shares. The stock had previously closed at $18.06.

Analysts Set New Price Targets

CGEM has been the subject of several recent research reports. William Blair initiated coverage on shares of Cullinan Oncology in a report on Monday. They set an "outperform" rating for the company. Wedbush assumed coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an "outperform" rating and a $30.00 price target for the company. HC Wainwright lowered their price target on shares of Cullinan Oncology from $34.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday. BTIG Research lifted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Jonestrading lifted their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $28.75.

Cullinan Oncology Price Performance

The company's 50-day moving average is $17.29 and its 200-day moving average is $12.60. The firm has a market capitalization of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM - Get Free Report) last released its 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. Sell-side analysts anticipate that Cullinan Oncology, Inc. will post -3.36 earnings per share for the current year.

Insider Buying and Selling

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total transaction of $647,200.00. Following the transaction, the insider now directly owns 165,990 shares of the company's stock, valued at $2,685,718.20. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 98,684 shares of company stock valued at $1,437,624. Insiders own 8.82% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank lifted its position in shares of Cullinan Oncology by 8.1% during the first quarter. Swiss National Bank now owns 36,200 shares of the company's stock worth $379,000 after purchasing an additional 2,700 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cullinan Oncology by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company's stock worth $253,000 after purchasing an additional 4,115 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Cullinan Oncology by 57.0% during the first quarter. MetLife Investment Management LLC now owns 15,398 shares of the company's stock worth $161,000 after purchasing an additional 5,590 shares in the last quarter. Rhumbline Advisers lifted its position in shares of 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 purchasing an additional 1,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cullinan Oncology by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company's stock worth $1,866,000 after purchasing an additional 3,937 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

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.