Cullinan Oncology (NASDAQ:CGEM) Stock Price Up 5.9% After Analyst Upgrade

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s stock price was up 5.9% during mid-day trading on Thursday after Jonestrading raised their price target on the stock from $22.00 to $26.00. Jonestrading currently has a buy rating on the stock. Cullinan Oncology traded as high as $19.14 and last traded at $18.94. Approximately 60,437 shares changed hands during trading, a decline of 87% from the average daily volume of 450,834 shares. The stock had previously closed at $17.88.

A number of other equities analysts also recently commented on CGEM. BTIG Research upped their target price on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright decreased their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. William Blair began coverage on shares of Cullinan Oncology in a report on Monday. They issued an “outperform” rating for the company. Finally, Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $28.75.

Insider Activity at Cullinan Oncology

In other news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $12.14, for a total transaction of $226,823.76. Following the completion of the transaction, the insider now directly owns 165,990 shares in the company, valued at $2,015,118.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 98,684 shares of company stock valued at $1,437,624 in the last three months. Company insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

Several large investors have recently modified their holdings of CGEM. Nuveen Asset Management LLC grew its position in Cullinan Oncology by 1.3% during the 3rd quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after purchasing an additional 1,347 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after buying an additional 1,445 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Cullinan Oncology by 5.6% during the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock valued at $298,000 after acquiring an additional 1,500 shares in the last quarter. SG Americas Securities LLC raised its holdings 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 acquiring an additional 1,587 shares during the last quarter. Finally, California State Teachers Retirement System lifted 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 valued at $253,000 after acquiring an additional 1,719 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Trading Up 5.9 %

The firm has a 50 day simple moving average of $17.29 and a 200 day simple moving average of $12.57. The firm has a market capitalization of $815.75 million, a PE ratio of -5.15 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. Research analysts forecast that Cullinan Oncology, Inc. will post -3.6 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.