Q2 2024 EPS Estimates for Cullinan Oncology, Inc. (NASDAQ:CGEM) Raised by Analyst

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at William Blair increased their Q2 2024 EPS estimates for Cullinan Oncology in a research report issued on Tuesday, April 16th. William Blair analyst M. Phipps now anticipates that the company will post earnings of ($0.75) per share for the quarter, up from their prior estimate of ($0.95). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. William Blair also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($3.03) EPS and FY2027 earnings at ($2.98) EPS.

Several other equities analysts also recently issued reports on CGEM. Jonestrading upped their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research note 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 research note on Tuesday. Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price for the company. Finally, BTIG Research increased their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $28.75.

Cullinan Oncology Stock Performance

NASDAQ CGEM opened at $18.06 on Friday. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The company has a fifty day moving average of $17.29 and a two-hundred day moving average of $12.60.

Cullinan Oncology (NASDAQ:CGEM) last issued its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CGEM. Blue Owl Capital Holdings LP purchased a new position in Cullinan Oncology during the fourth quarter worth about $34,848,000. Assenagon Asset Management S.A. increased its holdings in Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after buying an additional 482,234 shares in the last quarter. Franklin Resources Inc. increased 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 valued at $33,436,000 after buying an additional 390,505 shares in the last quarter. Millennium Management LLC increased its holdings in Cullinan Oncology by 2,959.3% in the second quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock valued at $4,124,000 after buying an additional 311,169 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new position in Cullinan Oncology in the fourth quarter valued at about $3,057,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 98,684 shares of company stock valued at $1,437,624 over the last ninety days. Corporate insiders own 8.82% of the company’s stock.

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.