Cullinan Oncology (NASDAQ:CGEM) Price Target Cut to $29.00 by Analysts at HC Wainwright

Cullinan Oncology (NASDAQ:CGEM) had its price objective reduced by HC Wainwright from $34.00 to $29.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush started coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They issued an outperform rating and a $30.00 price target on the stock. William Blair initiated coverage on Cullinan Oncology in a research note on Monday. They issued an outperform rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $27.00.

Cullinan Oncology Trading Up 4.7 %

Shares of Cullinan Oncology stock opened at $17.32 on Tuesday. The company’s 50-day moving average price is $17.30 and its two-hundred day moving average price is $12.53. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62. The stock has a market cap of $745.97 million, a PE ratio of -4.69 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEM) last issued 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. On average, equities analysts predict that Cullinan Oncology will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $12.14, for a total value of $226,823.76. Following the transaction, the insider now owns 165,990 shares of the company’s stock, valued at approximately $2,015,118.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 98,684 shares of company stock valued at $1,437,624. 8.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cullinan Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased 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 worth $18,051,000 after buying an additional 82,910 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cullinan Oncology by 49.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,315 shares of the company’s stock worth $1,308,000 after purchasing an additional 42,204 shares during the period. Price T Rowe Associates Inc. MD boosted its position in 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 worth $225,000 after purchasing an additional 7,620 shares during the period. GSA Capital Partners LLP bought a new stake in Cullinan Oncology during the fourth quarter worth approximately $104,000. Finally, Blue Owl Capital Holdings LP bought a new stake in shares of Cullinan Oncology in the fourth quarter valued at approximately $34,848,000. Hedge funds and other institutional investors own 86.31% 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.