Cullinan Oncology, Inc. (NASDAQ:CGEM) Major Shareholder Sells $285,013.63 in Stock

Cullinan Oncology, Inc. (NASDAQ:CGEMGet Rating) major shareholder Bioscience I. 2017 Ltd F2 sold 22,319 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $12.77, for a total transaction of $285,013.63. Following the sale, the insider now directly owns 616,976 shares of the company’s stock, valued at approximately $7,878,783.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of CGEM traded up $0.59 during mid-day trading on Thursday, hitting $13.32. 288,158 shares of the company traded hands, compared to its average volume of 401,262. Cullinan Oncology, Inc. has a one year low of $7.30 and a one year high of $30.33. The business has a 50-day moving average of $11.14 and a 200 day moving average of $12.93. The stock has a market capitalization of $596.51 million, a price-to-earnings ratio of -7.53 and a beta of 0.17.

Cullinan Oncology (NASDAQ:CGEMGet Rating) last released its quarterly earnings results on Monday, May 16th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.34. As a group, analysts anticipate that Cullinan Oncology, Inc. will post 3.39 EPS for the current year.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Cullinan Oncology in a report on Tuesday, May 17th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Bank of America Corp DE boosted its stake in Cullinan Oncology by 56.4% in the first quarter. Bank of America Corp DE now owns 45,433 shares of the company’s stock valued at $475,000 after acquiring an additional 16,384 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in Cullinan Oncology by 1.0% in the first quarter. Rock Springs Capital Management LP now owns 652,578 shares of the company’s stock valued at $6,832,000 after acquiring an additional 6,500 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Cullinan Oncology by 4.0% in the first quarter. Goldman Sachs Group Inc. now owns 83,651 shares of the company’s stock valued at $876,000 after acquiring an additional 3,250 shares during the last quarter. UBS Group AG boosted its stake in Cullinan Oncology by 474.5% in the first quarter. UBS Group AG now owns 124,909 shares of the company’s stock valued at $1,307,000 after acquiring an additional 103,167 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Cullinan Oncology by 3.3% during the first quarter. Northern Trust Corp now owns 238,943 shares of the company’s stock worth $2,502,000 after purchasing an additional 7,560 shares in the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

About Cullinan Oncology (Get Rating)

Cullinan Oncology 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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