Cullinan Oncology (NASDAQ:CGEM) Receives New Coverage from Analysts at William Blair

Equities research analysts at William Blair assumed coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating on the stock.

CGEM has been the subject of a number of other reports. Wedbush began coverage on Cullinan Oncology in a report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of Cullinan Oncology in a report on Thursday, March 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology presently has a consensus rating of “Buy” and an average price target of $27.00.

Cullinan Oncology Trading Up 4.7 %

Shares of Cullinan Oncology stock opened at $17.32 on Monday. The business’s 50 day simple moving average is $17.30 and its 200-day simple moving average is $12.53. The stock has a market capitalization of $745.97 million, a price-to-earnings ratio of -4.69 and a beta of 0.33. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. Sell-side analysts predict that Cullinan Oncology will post -3.55 earnings per share for the current year.

Insider Buying and Selling at Cullinan Oncology

In other news, insider Corrine Savill sold 18,684 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total transaction of $226,823.76. Following the completion of the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Oncology

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

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.