Q2 2024 EPS Estimates for Cullinan Oncology, Inc. Increased by HC Wainwright (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Investment analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for shares of Cullinan Oncology in a report issued on Tuesday, April 16th. HC Wainwright analyst E. White now expects that the company will post earnings of ($0.67) per share for the quarter, up from their prior estimate of ($0.98). HC Wainwright currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. HC Wainwright also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($3.06) EPS, FY2025 earnings at ($2.52) EPS and FY2026 earnings at ($2.96) EPS.

Other research analysts also recently issued reports about the company. BTIG Research upped their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Jonestrading upped their price objective on Cullinan Oncology from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair assumed coverage on Cullinan Oncology in a research note on Monday, April 15th. They set an “outperform” rating for the company. Finally, Wedbush assumed coverage on Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $28.75.

Cullinan Oncology Trading Down 13.3 %

Shares of NASDAQ CGEM opened at $15.66 on Thursday. The company has a market capitalization of $674.48 million, a price-to-earnings ratio of -4.24 and a beta of 0.33. The business has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $12.66. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42.

Insider Transactions at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the transaction, the insider now owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Oncology

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Cullinan Oncology by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 1,771,443 shares of the company’s stock valued at $18,051,000 after purchasing an additional 82,910 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cullinan Oncology by 49.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock valued at $1,308,000 after purchasing an additional 42,204 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cullinan Oncology by 52.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,022 shares of the company’s stock valued at $225,000 after purchasing an additional 7,620 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Cullinan Oncology during the fourth quarter valued at $104,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of Cullinan Oncology during the fourth quarter valued at $34,848,000. 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.