Cullinan Oncology (NASDAQ:CGEM) Hits New 52-Week High at $20.62

Cullinan Oncology, Inc. (NASDAQ:CGEM) shares hit a new 52-week high on Tuesday . The company traded as high as $20.62 and last traded at $19.99, with a volume of 677755 shares trading hands. The stock had previously closed at $16.55.

Analyst Ratings Changes

CGEM has been the topic of a number of recent analyst reports. William Blair assumed coverage on shares of Cullinan Oncology in a research note on Monday. They issued an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and set a $34.00 price target on shares of Cullinan Oncology in a research note on Thursday, March 14th. Finally, Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Oncology presently has an average rating of “Buy” and a consensus target price of $28.67.

Cullinan Oncology Price Performance

The firm’s 50 day moving average is $17.32 and its 200 day moving average is $12.47. The company has a market capitalization of $826.08 million, a PE ratio of -5.41 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, analysts predict that Cullinan Oncology, Inc. will post -3.55 EPS for the current fiscal year.

Insider Activity 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 value of $563,600.00. Following the sale, the insider now owns 165,990 shares in the company, valued at $2,338,799.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 98,684 shares of company stock worth $1,437,624 over the last quarter. Corporate insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Cullinan Oncology by 145.6% during the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock valued at $483,000 after buying an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 worth $5,512,000 after purchasing an additional 482,234 shares during the last quarter. Citigroup Inc. raised its position in shares of Cullinan Oncology by 186.1% in the 3rd quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after purchasing an additional 15,308 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Cullinan Oncology by 15.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock worth $1,102,000 after buying an additional 16,700 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Cullinan Oncology in the 3rd quarter worth about $203,000. Institutional investors own 86.31% of the company’s stock.

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.