Cullinan Oncology (NASDAQ:CGEM) Sees Unusually-High Trading Volume

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) saw strong trading volume on Monday . 829,632 shares changed hands during mid-day trading, an increase of 49% from the previous session’s volume of 558,210 shares.The stock last traded at $27.07 and had previously closed at $25.30.

Analyst Ratings Changes

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

Cullinan Oncology Stock Up 9.8 %

The firm’s 50 day simple moving average is $17.32 and its 200 day simple moving average is $13.09. The company has a market capitalization of $1.20 billion, a PE ratio of -7.49 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last posted 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. As a group, sell-side analysts predict that Cullinan Oncology, Inc. will post -3.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total transaction of $647,200.00. Following the completion of the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its stake in 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 raised its holdings in Cullinan Oncology by 1,331.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after purchasing an additional 6,085 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Cullinan Oncology in the fourth quarter worth about $102,000. Bailard Inc. bought a new position in Cullinan Oncology in the fourth quarter worth about $110,000. Finally, Annandale Capital LLC raised its holdings in Cullinan Oncology by 20.0% in the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after purchasing an additional 2,000 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

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.