Analysts Issue Forecasts for Cullinan Oncology, Inc.’s Q1 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Analysts at William Blair issued their Q1 2024 earnings per share estimates for shares of Cullinan Oncology in a research note issued to investors on Monday, April 15th. William Blair analyst M. Phipps anticipates that the company will post earnings of ($0.92) per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) per share. William Blair also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

Cullinan Oncology (NASDAQ:CGEM) last issued its 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 several other reports. HC Wainwright reduced their price target on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday. Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, BTIG Research boosted their price target on Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $27.75.

Cullinan Oncology Price Performance

CGEM opened at $17.88 on Wednesday. The business has a fifty day simple moving average of $17.29 and a 200 day simple moving average of $12.57. The company has a market capitalization of $770.02 million, a PE ratio of -4.85 and a beta of 0.33. Cullinan Oncology has a 1 year low of $7.64 and a 1 year high of $20.62.

Insider Buying and Selling at Cullinan Oncology

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction on Monday, January 29th. The stock was 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 directly owns 165,990 shares of the company’s stock, valued at approximately $2,338,799.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 98,684 shares of company stock valued at $1,437,624 in the last three months. Corporate insiders own 8.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of Cullinan Oncology by 8.1% in the 1st quarter. Swiss National Bank now owns 36,200 shares of the company’s stock valued at $379,000 after purchasing an additional 2,700 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 valued at $253,000 after purchasing an additional 4,115 shares during the last quarter. MetLife Investment Management LLC increased its position in 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 in the last quarter. Rhumbline Advisers lifted its stake in Cullinan Oncology by 4.7% in the 1st quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cullinan Oncology by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock valued at $1,866,000 after purchasing an additional 3,937 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.