Cullinan Oncology, Inc. (NASDAQ:CGEM)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.66 and last traded at $13.71, with a volume of 629 shares changing hands. The stock had previously closed at $13.71.
Separately, SVB Leerink restated a “buy” rating and issued a $54.00 price objective on shares of Cullinan Oncology in a research report on Monday, November 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Cullinan Oncology presently has an average rating of “Buy” and a consensus target price of $46.80.
The business has a 50 day moving average price of $17.32 and a 200-day moving average price of $22.77.
In other news, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $21.42, for a total transaction of $85,680.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.78% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CGEM. New York State Common Retirement Fund increased its position in Cullinan Oncology by 40.5% in the 2nd quarter. New York State Common Retirement Fund now owns 11,804 shares of the company’s stock valued at $304,000 after acquiring an additional 3,404 shares during the period. Rhumbline Advisers increased its position in Cullinan Oncology by 29.7% in the 2nd quarter. Rhumbline Advisers now owns 15,027 shares of the company’s stock valued at $387,000 after acquiring an additional 3,443 shares during the period. Swiss National Bank acquired a new stake in Cullinan Oncology in the 2nd quarter valued at approximately $736,000. O Shaughnessy Asset Management LLC acquired a new stake in Cullinan Oncology in the 2nd quarter valued at approximately $75,000. Finally, Virtus ETF Advisers LLC acquired a new stake in Cullinan Oncology in the 2nd quarter valued at approximately $187,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.
About Cullinan Oncology (NASDAQ:CGEM)
Cullinan Management, 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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