Cullinan Oncology (NASDAQ:CGEM) Reaches New 12-Month High at $21.89

Cullinan Oncology, Inc. (NASDAQ:CGEM) shares hit a new 52-week high during trading on Friday . The stock traded as high as $21.89 and last traded at $21.36, with a volume of 288839 shares. The stock had previously closed at $19.25.

Wall Street Analyst Weigh In

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

Cullinan Oncology Stock Up 31.7 %

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.73 and a beta of 0.33. The company has a 50-day moving average price of $17.18 and a 200-day moving average price of $12.91.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. As a group, analysts forecast that Cullinan Oncology, Inc. will post -3.21 earnings per share for the current year.

Insider Activity at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the completion of the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Cullinan Oncology by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after purchasing an additional 1,587 shares in the last quarter. Annandale Capital LLC lifted its stake in Cullinan Oncology by 20.0% in the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after acquiring an additional 2,000 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Cullinan Oncology by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,076 shares of the company’s stock valued at $143,000 after purchasing an additional 3,569 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after purchasing an additional 3,859 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 worth $59,000 after purchasing an additional 6,085 shares during the period. 86.31% of the stock is currently 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.