Cullinan Oncology (NASDAQ:CGEM) PT Lowered to $28.00 at HC Wainwright

Cullinan Oncology (NASDAQ:CGEMFree Report) had its price objective trimmed by HC Wainwright from $29.00 to $28.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. 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. William Blair began coverage on Cullinan Oncology in a report on Monday, April 15th. They set an outperform rating for the company. Wedbush reaffirmed an outperform rating and issued a $36.00 target price on shares of Cullinan Oncology in a research note on Thursday. BTIG Research boosted their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Stifel Nicolaus started coverage on shares of Cullinan Oncology in a research note on Wednesday, May 1st. They issued a buy rating and a $40.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $32.00.

Check Out Our Latest Stock Report on CGEM

Cullinan Oncology Stock Down 2.7 %

NASDAQ:CGEM opened at $23.17 on Thursday. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $30.19. The firm has a market capitalization of $997.93 million, a PE ratio of -7.40 and a beta of -0.01. The firm has a 50-day moving average price of $20.06 and a 200 day moving average price of $14.96.

Cullinan Oncology (NASDAQ:CGEMGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.42. On average, research analysts expect that Cullinan Oncology will post -3.23 EPS for the current year.

Insider Activity at Cullinan Oncology

In other Cullinan Oncology news, insider Jennifer Michaelson sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $28.07, for a total transaction of $1,628,060.00. Following the completion of the transaction, the insider now owns 129,582 shares of the company’s stock, valued at approximately $3,637,366.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its holdings in shares of Cullinan Oncology by 380.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after purchasing an additional 482,234 shares during the period. Franklin Resources Inc. lifted its position in shares of Cullinan Oncology by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after buying an additional 390,505 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Cullinan Oncology during the 4th quarter worth approximately $3,057,000. Parkman Healthcare Partners LLC increased its holdings in shares of Cullinan Oncology by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock worth $5,399,000 after acquiring an additional 91,132 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Cullinan Oncology in the 4th quarter valued at $356,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Oncology Company Profile

(Get Free Report)

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.

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