Cullinan Oncology (NASDAQ:CGEM) Receives New Coverage from Analysts at William Blair

William Blair started coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a report released on Monday morning, Marketbeat reports. The firm issued an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. HC Wainwright reiterated a buy rating and issued a $34.00 price target on shares of Cullinan Oncology in a report on Thursday, March 14th. Wedbush started coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Oncology presently has a consensus rating of Buy and an average price target of $28.67.

Cullinan Oncology Price Performance

Shares of CGEM stock opened at $16.55 on Monday. The company has a market capitalization of $712.81 million, a price-to-earnings ratio of -4.49 and a beta of 0.33. Cullinan Oncology has a one year low of $7.64 and a one year high of $19.68. The company’s fifty day moving average price is $17.32 and its 200-day moving average price is $12.47.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.42. Equities research analysts expect that Cullinan Oncology will post -3.55 earnings per share for the current fiscal year.

Insider Transactions at Cullinan Oncology

In other news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $16.18, for a total value of $647,200.00. Following the sale, the insider now directly owns 165,990 shares in the company, valued at approximately $2,685,718.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 98,684 shares of company stock worth $1,437,624 in the last three months. Insiders own 8.82% of the company’s stock.

Institutional Trading of Cullinan Oncology

A number of large investors have recently made changes to their positions in the business. Swiss National Bank boosted its stake in shares of Cullinan Oncology by 8.1% during the 1st quarter. Swiss National Bank now owns 36,200 shares of the company’s stock worth $379,000 after purchasing an additional 2,700 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cullinan Oncology by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company’s stock worth $253,000 after purchasing an additional 4,115 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Cullinan Oncology by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 15,398 shares of the company’s stock worth $161,000 after purchasing an additional 5,590 shares during the period. Rhumbline Advisers boosted its stake in shares of Cullinan Oncology by 4.7% during the 1st quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock worth $336,000 after purchasing an additional 1,445 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cullinan Oncology by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock worth $1,866,000 after purchasing an additional 3,937 shares during the period. 86.31% of the stock is currently owned by 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.