Cullinan Oncology, Inc. (NASDAQ:CGEM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) have received an average recommendation of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $27.75.

Several research firms have commented on CGEM. William Blair began coverage on Cullinan Oncology in a research report on Monday. They issued an “outperform” rating on the stock. HC Wainwright lowered their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday. Wedbush began coverage on 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 raised their target price on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the transaction, the insider now directly owns 165,990 shares in the company, valued at $2,685,718.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 98,684 shares of company stock worth $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Cullinan Oncology by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock worth $18,051,000 after purchasing an additional 82,910 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Cullinan Oncology by 49.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock worth $1,308,000 after purchasing an additional 42,204 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cullinan Oncology by 52.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock valued at $225,000 after acquiring an additional 7,620 shares during the period. GSA Capital Partners LLP acquired a new position in Cullinan Oncology in the fourth quarter valued at approximately $104,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Cullinan Oncology in the fourth quarter valued at approximately $34,848,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Oncology Stock Performance

Shares of CGEM traded up $0.56 during trading hours on Wednesday, hitting $17.88. The stock had a trading volume of 1,260,645 shares, compared to its average volume of 453,597. The company’s fifty day simple moving average is $17.30 and its 200 day simple moving average is $12.53. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62. The firm has a market cap of $770.02 million, a P/E ratio of -4.88 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. As a group, sell-side analysts predict that Cullinan Oncology will post -3.55 earnings per share for the current fiscal 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.