Cullinan Oncology (NASDAQ:CGEM) Trading Down 3.3%

Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) were down 3.3% on Friday . The company traded as low as $17.47 and last traded at $17.47. Approximately 74,570 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 454,476 shares. The stock had previously closed at $18.06.

Analyst Upgrades and Downgrades

CGEM has been the topic of several analyst reports. Jonestrading raised their target price on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. William Blair began coverage on Cullinan Oncology in a research note on Monday. They set an “outperform” rating for the company. BTIG Research boosted their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright cut their price objective on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wedbush assumed coverage on Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Trading Down 9.9 %

The firm has a market capitalization of $701.18 million, a PE ratio of -4.63 and a beta of 0.33. The business has a 50 day moving average price of $17.29 and a 200-day moving average price of $12.60.

Cullinan Oncology (NASDAQ:CGEM) last released 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. On average, equities research analysts forecast that Cullinan Oncology, Inc. will post -3.36 earnings per share 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 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 transaction, the insider now owns 165,990 shares in the company, valued at $2,338,799.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 98,684 shares of company stock worth $1,437,624 over the last quarter. 8.82% of the stock is currently owned by insiders.

Institutional Trading of Cullinan Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its stake in Cullinan Oncology by 145.6% in the third quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after purchasing an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cullinan Oncology by 380.1% during the third quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after buying an additional 482,234 shares during the period. Citigroup Inc. boosted its position in shares of Cullinan Oncology by 186.1% during the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after buying an additional 15,308 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Cullinan Oncology by 15.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock worth $1,102,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Cullinan Oncology during the third quarter worth approximately $181,000. 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.