Cullinan Oncology (NASDAQ:CGEM) Trading Up 7.8%

Cullinan Oncology, Inc. (NASDAQ:CGEM) shares traded up 7.8% during mid-day trading on Wednesday . The stock traded as high as $18.24 and last traded at $17.97. 153,899 shares were traded during trading, a decline of 68% from the average session volume of 477,343 shares. The stock had previously closed at $16.67.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. William Blair assumed coverage on Cullinan Oncology in a research note on Monday, April 15th. They issued an “outperform” rating on the stock. HC Wainwright reduced their price target on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Jonestrading raised their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. BTIG Research increased their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology presently has an average rating of “Buy” and an average target price of $28.75.

Cullinan Oncology Price Performance

The stock has a 50 day moving average price of $17.32 and a 200-day moving average price of $13.03. The stock has a market capitalization of $1.09 billion, a P/E ratio of -6.86 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. Research analysts predict that Cullinan Oncology, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.09, for a total transaction of $563,600.00. Following the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,338,799.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.82% of the company’s stock.

Hedge Funds Weigh In On Cullinan Oncology

A number of hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after acquiring an additional 3,859 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cullinan Oncology by 1,331.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Cullinan Oncology during the fourth quarter valued at about $102,000. Annandale Capital LLC grew its holdings in shares of Cullinan Oncology by 20.0% in the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of Cullinan Oncology in the fourth quarter valued at approximately $110,000. 86.31% of the stock is currently 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.