Cullinan Oncology (NASDAQ:CGEM) Trading 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 were traded 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 research analysts have also issued reports on CGEM. HC Wainwright decreased their target price 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. BTIG Research raised their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. William Blair initiated coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating on the stock. Finally, Wedbush initiated coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $28.75.

Insider Activity

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,685,718.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 98,684 shares of company stock worth $1,437,624. 8.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in Cullinan Oncology by 1.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock worth $1,376,000 after acquiring an additional 1,347 shares during the period. Rhumbline Advisers raised its holdings in 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 acquiring an additional 1,445 shares during the period. Alliancebernstein L.P. grew its position in Cullinan Oncology by 5.6% in the 4th quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock worth $298,000 after purchasing an additional 1,500 shares during the last quarter. SG Americas Securities LLC grew its position 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 purchasing an additional 1,587 shares during the last quarter. Finally, California State Teachers Retirement System grew 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 worth $253,000 after purchasing an additional 1,719 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Stock Performance

The company has a market capitalization of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33. The firm’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $12.66.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.42. Equities research analysts forecast that Cullinan Oncology, Inc. will post -3.36 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.