Cullinan Oncology (NASDAQ:CGEM) Sets New 12-Month High at $21.89

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $21.89 and last traded at $21.36, with a volume of 288839 shares changing hands. The stock had previously closed at $19.25.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HC Wainwright lowered their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. BTIG Research raised their target price on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Jonestrading upped their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Wedbush assumed coverage on shares of Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, William Blair assumed coverage on shares of Cullinan Oncology in a research report on Monday, April 15th. They set an “outperform” rating for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Oncology has an average rating of “Buy” and a consensus target price of $28.75.

Cullinan Oncology Price Performance

The firm has a market capitalization of $1.09 billion, a PE ratio of -6.86 and a beta of 0.33. The company has a 50-day moving average price of $17.32 and a 200 day moving average price of $13.05.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. As a group, research analysts anticipate that Cullinan Oncology, Inc. will post -3.21 earnings per share for the current year.

Insider Buying and Selling

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction 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 sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.82% of the stock is owned by company insiders.

Institutional Trading of Cullinan Oncology

A number of large investors have recently added to or reduced their stakes in CGEM. China Universal Asset Management Co. Ltd. grew its holdings in shares of Cullinan Oncology by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after purchasing an additional 3,859 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 buying an additional 6,085 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Cullinan Oncology in the 4th quarter valued at approximately $102,000. Bailard Inc. bought a new stake in Cullinan Oncology in the fourth quarter worth $110,000. Finally, Annandale Capital LLC raised its stake in shares of Cullinan Oncology by 20.0% in the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after acquiring an additional 2,000 shares during the period. Institutional investors 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.