Cullinan Oncology (NASDAQ:CGEM) Earns Outperform Rating from Analysts at William Blair

William Blair initiated coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research report released on Monday morning, Marketbeat reports. The brokerage issued an outperform rating on the stock. William Blair also issued estimates for Cullinan Oncology’s Q1 2024 earnings at ($0.92) EPS, Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

Several other research firms have also recently issued reports on CGEM. HC Wainwright reiterated a buy rating and set a $34.00 price objective on shares of Cullinan Oncology in a research report on Thursday, March 14th. Wedbush started coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an outperform rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $27.75.

Cullinan Oncology Stock Performance

Shares of Cullinan Oncology stock opened at $17.88 on Monday. Cullinan Oncology has a fifty-two week low of $7.64 and a fifty-two week high of $20.62. The company has a market capitalization of $770.02 million, a P/E ratio of -4.85 and a beta of 0.33. The company has a fifty day moving average of $17.29 and a 200 day moving average of $12.57.

Cullinan Oncology (NASDAQ:CGEM) 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. Analysts forecast that Cullinan Oncology will post -3.55 EPS for the current year.

Insider Activity at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 165,990 shares in the company, valued at $2,338,799.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 98,684 shares of company stock valued at $1,437,624 over the last 90 days. 8.82% of the stock is owned by corporate insiders.

Institutional Trading of Cullinan Oncology

Several institutional investors and hedge funds have recently made changes to their positions in CGEM. China Universal Asset Management Co. Ltd. increased its stake in 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 during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Cullinan Oncology during the second quarter valued at approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of Cullinan Oncology in the second quarter valued at approximately $59,000. Finally, Royal Bank of Canada grew its stake in Cullinan Oncology by 499.8% in the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after purchasing an additional 7,492 shares in the last quarter. 86.31% of the stock is currently owned by 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.