Jonestrading Increases Cullinan Oncology (NASDAQ:CGEM) Price Target to $26.00

Cullinan Oncology (NASDAQ:CGEM) had its price objective boosted by Jonestrading from $22.00 to $26.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on CGEM. William Blair assumed coverage on shares of Cullinan Oncology in a research note on Monday. They set an outperform rating for the company. Wedbush initiated coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an outperform rating and a $30.00 target price on the stock. HC Wainwright cut their price target on Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a research note on Tuesday. Finally, BTIG Research increased their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a buy rating in a report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Oncology has an average rating of Buy and an average target price of $28.75.

Cullinan Oncology Stock Up 3.2 %

NASDAQ:CGEM opened at $17.88 on Wednesday. The company has a market capitalization of $770.09 million, a PE ratio of -4.85 and a beta of 0.33. Cullinan Oncology has a 52-week low of $7.64 and a 52-week high of $20.62. The stock’s 50 day moving average price is $17.29 and its 200 day moving average price is $12.57.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings data 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, sell-side analysts anticipate that Cullinan Oncology will post -3.6 EPS for the current fiscal year.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total value of $226,823.76. Following the sale, the insider now directly owns 165,990 shares in the company, valued at $2,015,118.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders sold 98,684 shares of company stock valued at $1,437,624. Corporate insiders own 8.82% of the company’s stock.

Institutional Investors Weigh In On Cullinan Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Owl Capital Holdings LP purchased a new position in shares of Cullinan Oncology in the 4th quarter valued at about $34,848,000. Assenagon Asset Management S.A. increased its holdings in Cullinan Oncology by 380.1% in the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after buying an additional 482,234 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Cullinan Oncology by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after acquiring an additional 390,505 shares during the period. Millennium Management LLC boosted its stake in shares of Cullinan Oncology by 2,959.3% during the 2nd quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock worth $4,124,000 after acquiring an additional 311,169 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Cullinan Oncology in the 4th quarter worth approximately $3,057,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

About Cullinan Oncology

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.