Cullinan Oncology (NASDAQ:CGEM) PT Raised to $30.00 at BTIG Research

Cullinan Oncology (NASDAQ:CGEM) had its price objective boosted by BTIG Research from $20.00 to $30.00 in a research note issued to investors on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research firms have also commented on CGEM. Wedbush initiated coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target for the company. William Blair initiated coverage on Cullinan Oncology in a report on Monday, April 15th. They issued an outperform rating for the company. Finally, HC Wainwright cut their price target on Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $28.75.

Cullinan Oncology Price Performance

NASDAQ:CGEM opened at $15.66 on Wednesday. The business has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $12.66. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62. The company has a market capitalization of $674.48 million, a P/E ratio of -4.24 and a beta of 0.33.

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 analysts’ consensus estimates of ($0.96) by $0.42. As a group, analysts anticipate that Cullinan Oncology will post -3.36 earnings per share for the current year.

Insider Activity at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction 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 sale, the insider now owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 98,684 shares of company stock valued at $1,437,624. Company insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

Several large investors have recently added to or reduced their stakes in CGEM. Swiss National Bank boosted its stake in Cullinan Oncology by 8.1% during the first quarter. Swiss National Bank now owns 36,200 shares of the company’s stock valued at $379,000 after buying an additional 2,700 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cullinan Oncology by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company’s stock worth $253,000 after purchasing an additional 4,115 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Cullinan Oncology by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,398 shares of the company’s stock worth $161,000 after purchasing an additional 5,590 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Cullinan Oncology by 4.7% in the 1st quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock worth $336,000 after purchasing an additional 1,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cullinan Oncology by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock worth $1,866,000 after purchasing an additional 3,937 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

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.