Cullinan Oncology (NASDAQ:CGEM) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Cullinan Oncology (NASDAQ:CGEM) from a buy rating to a hold rating in a research note published on Monday morning, Zacks.com reports.

According to Zacks, “Cullinan Management Inc. is a biopharmaceutical company. It is focused on developing a diversified pipeline of targeted oncology and immuno-oncology therapies for cancer patients. Cullinan Management Inc. is based in CAMBRIDGE, Mass. “

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright raised their price objective on shares of Cullinan Oncology from $48.00 to $55.00 and gave the stock a buy rating in a research note on Friday, June 4th. SVB Leerink increased their target price on Cullinan Oncology from $48.00 to $54.00 and gave the company an outperform rating in a research report on Friday, June 4th. Finally, Morgan Stanley increased their target price on Cullinan Oncology from $40.00 to $43.00 and gave the company an overweight rating in a research report on Monday, June 7th. Five equities research analysts have rated the stock with a buy rating, Cullinan Oncology presently has a consensus rating of Buy and an average price target of $47.40.

Shares of NASDAQ CGEM opened at $26.96 on Monday. The firm has a market cap of $1.17 billion and a PE ratio of -4.92. Cullinan Oncology has a 12 month low of $24.35 and a 12 month high of $59.85. The stock’s 50 day moving average price is $28.34.

Several large investors have recently modified their holdings of CGEM. The Manufacturers Life Insurance Company acquired a new stake in shares of Cullinan Oncology during the 1st quarter worth about $308,000. Victory Capital Management Inc. acquired a new stake in shares of Cullinan Oncology during the 1st quarter worth about $1,445,000. Rhumbline Advisers acquired a new position in Cullinan Oncology in the 1st quarter valued at about $483,000. The PNC Financial Services Group Inc. acquired a new position in Cullinan Oncology in the 1st quarter valued at about $306,000. Finally, American International Group Inc. acquired a new position in Cullinan Oncology in the 1st quarter valued at about $319,000. 71.97% of the stock is owned by hedge funds and other institutional investors.

Cullinan Oncology Company Profile

Cullinan Management, Inc, a biopharmaceutical company, focuses on developing a pipeline of targeted oncology and immuno-oncology therapies for cancer patients in the United States. The company's lead candidate is the CLN-081, an orally available small molecule that is in a Phase I/IIa dose escalation and expansion trial for treating patients with non-small cell lung cancer.

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