BTIG Research Raises Cullinan Oncology (NASDAQ:CGEM) Price Target to $30.00

Cullinan Oncology (NASDAQ:CGEM) had its price objective hoisted by BTIG Research from $20.00 to $30.00 in a research note released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on CGEM. Wedbush began coverage on Cullinan Oncology in a report on Thursday, February 15th. They set an outperform rating and a $30.00 target price on the stock. HC Wainwright reduced their target price on Cullinan Oncology from $34.00 to $29.00 and set a buy rating on the stock in a report on Tuesday. Finally, William Blair began coverage on Cullinan Oncology in a report on Monday, April 15th. They set an outperform rating on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Oncology presently has an average rating of Buy and a consensus target price of $28.75.

Cullinan Oncology Stock Down 13.3 %

Cullinan Oncology stock opened at $15.66 on Wednesday. The business’s 50-day simple moving average is $17.23 and its 200 day simple moving average is $12.66. The stock has a market cap of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.42. As a group, sell-side analysts expect that Cullinan Oncology will post -3.36 EPS for the current year.

Insider Transactions at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 29th. The stock was 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 of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 98,684 shares of company stock valued at $1,437,624 over the last 90 days. 8.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. Blue Owl Capital Holdings LP acquired a new stake in Cullinan Oncology in the 4th quarter valued at approximately $34,848,000. Assenagon Asset Management S.A. raised its position in Cullinan Oncology by 380.1% in the 3rd 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 during the last quarter. Franklin Resources Inc. increased 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 worth $33,436,000 after purchasing an additional 390,505 shares during the last quarter. Millennium Management LLC increased its position 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 purchasing an additional 311,169 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Cullinan Oncology during 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.