Cullinan Oncology, Inc. (NASDAQ:CGEM) Short Interest Update

Cullinan Oncology, Inc. (NASDAQ:CGEM) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 1,680,000 shares, an increase of 16.7% from the March 31st total of 1,440,000 shares. Based on an average trading volume of 537,900 shares, the short-interest ratio is presently 3.1 days. Approximately 6.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Cullinan Oncology Trading Down 0.4 %

Shares of CGEM stock opened at $27.01 on Wednesday. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $29.12. The firm’s 50 day moving average is $17.50 and its 200-day moving average is $13.21. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.32 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last announced its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. On average, equities research analysts forecast that Cullinan Oncology will post -3.21 earnings per share for the current fiscal year.

Insider Activity

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the sale, 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 SEC, which can be accessed through this link. Insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its position in shares of Cullinan Oncology by 352.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after buying an additional 3,859 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cullinan Oncology by 1,331.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after acquiring an additional 6,085 shares during the period. Vontobel Holding Ltd. purchased a new position in Cullinan Oncology during the fourth quarter valued at $102,000. Annandale Capital LLC lifted its position in Cullinan Oncology by 20.0% during the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after buying an additional 2,000 shares during the period. Finally, Bailard Inc. purchased a new position in Cullinan Oncology during the fourth quarter valued at $110,000. 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.