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

Cullinan Oncology (NASDAQ:CGEM) had its price target upped by investment analysts at Jonestrading from $22.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jonestrading’s price target points to a potential upside of 45.41% from the stock’s previous close.

A number of other analysts have also issued reports on CGEM. HC Wainwright cut their target price on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price on the stock. William Blair started coverage on Cullinan Oncology in a research report on Monday. They issued an “outperform” rating on the stock. Finally, BTIG Research boosted their target price on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Stock Performance

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

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.42. Equities research analysts predict that Cullinan Oncology will post -3.6 EPS for the current fiscal year.

Insider Transactions at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the sale, the insider now owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

Institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Oncology by 352.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after purchasing an additional 3,859 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Cullinan Oncology during the second quarter worth $53,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cullinan Oncology by 1,331.5% during 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. Point72 Middle East FZE acquired a new position in shares of Cullinan Oncology during the second quarter worth $59,000. Finally, Royal Bank of Canada grew its stake in shares of Cullinan Oncology by 499.8% during the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after purchasing an additional 7,492 shares in the last quarter. Institutional investors and hedge funds 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.