Cullinan Oncology (NASDAQ:CGEM) Sees Large Volume Increase

Cullinan Oncology, Inc. (NASDAQ:CGEM - Get Free Report) saw strong trading volume on Monday . 829,632 shares traded hands during trading, an increase of 49% from the previous session's volume of 558,210 shares.The stock last traded at $27.07 and had previously closed at $25.30.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CGEM. BTIG Research lifted their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. William Blair initiated coverage on Cullinan Oncology in a research report on Monday, April 15th. They set an "outperform" rating for the company. HC Wainwright lowered their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, April 16th. Wedbush began coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an "outperform" rating and a $30.00 price target on the stock. Finally, Jonestrading upped their target price on shares of Cullinan Oncology from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology has a consensus rating of "Buy" and an average target price of $28.75.

Cullinan Oncology Stock Performance

The stock's 50 day moving average price is $17.32 and its 200-day moving average price is $13.09. The company has a market cap of $1.17 billion, a PE ratio of -7.49 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, beating analysts' consensus estimates of ($0.96) by $0.42. On average, analysts anticipate that Cullinan Oncology, Inc. will post -3.21 EPS for the current year.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 165,990 shares of the company's stock, valued at approximately $2,685,718.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.82% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in Cullinan Oncology by 81.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company's stock valued at $153,000 after purchasing an additional 4,042 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of Cullinan Oncology by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company's stock valued at $5,399,000 after buying an additional 91,132 shares during the period. Affinity Asset Advisors LLC bought a new position in Cullinan Oncology in the fourth quarter worth about $3,057,000. NEOS Investment Management LLC bought a new position in Cullinan Oncology in the fourth quarter worth about $162,000. Finally, Franklin Resources Inc. lifted its holdings in 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 buying an additional 390,505 shares during the period. Institutional investors own 86.31% of the company's stock.

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.