Cullinan Oncology, Inc. to Post Q1 2024 Earnings of ($0.72) Per Share, Wedbush Forecasts (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Equities researchers at Wedbush increased their Q1 2024 earnings per share (EPS) estimates for Cullinan Oncology in a research report issued on Tuesday, April 16th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($0.72) for the quarter, up from their prior forecast of ($0.97). Wedbush currently has a “Outperform” rating and a $30.00 target price on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) per share. Wedbush also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.73) EPS, Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($3.13) EPS, FY2026 earnings at ($3.21) EPS, FY2027 earnings at ($2.86) EPS and FY2028 earnings at ($0.27) EPS.

A number of other equities analysts have also recently issued reports on CGEM. BTIG Research lifted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright cut their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, William Blair began coverage on shares of Cullinan Oncology in a research report on Monday. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $27.75.

Cullinan Oncology Trading Up 3.2 %

Shares of CGEM opened at $17.88 on Thursday. The stock has a market cap of $770.02 million, a P/E ratio of -4.85 and a beta of 0.33. The company has a 50-day moving average of $17.29 and a two-hundred day moving average of $12.57. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62.

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

Hedge Funds Weigh In On Cullinan Oncology

A number of institutional investors have recently modified their holdings of CGEM. Vanguard Group Inc. grew its holdings in Cullinan Oncology by 4.9% in 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 period. Goldman Sachs Group Inc. grew its holdings in Cullinan Oncology by 49.0% in 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 period. Price T Rowe Associates Inc. MD grew its holdings in Cullinan Oncology by 52.9% in 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 period. GSA Capital Partners LLP purchased a new stake in Cullinan Oncology in the fourth quarter valued at approximately $104,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in Cullinan Oncology in the fourth quarter valued at approximately $34,848,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Activity

In other news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.09, for a total value of $563,600.00. Following the completion of the transaction, the insider now owns 165,990 shares of the company’s stock, valued at $2,338,799.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 98,684 shares of company stock valued at $1,437,624 over the last 90 days. Insiders own 8.82% 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.