Brokers Issue Forecasts for Cullinan Oncology, Inc.’s Q2 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Equities research analysts at HC Wainwright lifted their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a research note issued on Tuesday, April 16th. HC Wainwright analyst E. White now anticipates 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 ($3.60) 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.

Cullinan Oncology (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42.

CGEM has been the subject of a number of other research reports. Wedbush started coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They set an “outperform” rating and a $30.00 price target for the company. Jonestrading increased their target price on shares of 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 report on Monday. They issued an “outperform” rating on the stock. Finally, BTIG Research increased their price objective on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology has a consensus rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Trading Up 1.0 %

Shares of CGEM opened at $18.06 on Thursday. The company’s 50 day simple moving average is $17.29 and its 200-day simple moving average is $12.60. The firm has a market cap of $777.84 million, a PE ratio of -4.89 and a beta of 0.33. Cullinan Oncology has a 12-month low of $7.64 and a 12-month high of $20.62.

Institutional Investors Weigh In On Cullinan Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Cullinan Oncology during the 2nd quarter worth $53,000. China Universal Asset Management Co. Ltd. grew its position in 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 buying an additional 3,859 shares during the period. Point72 Middle East FZE purchased a new position in Cullinan Oncology in the second quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cullinan Oncology by 1,331.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Cullinan Oncology by 499.8% during the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after acquiring an additional 7,492 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Transactions at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction that occurred 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 sale, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,685,718.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 98,684 shares of company stock worth $1,437,624. Company insiders own 8.82% of the company’s stock.

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.