Cullinan Oncology (NASDAQ:CGEM) Now Covered by William Blair

Equities research analysts at William Blair initiated coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating on the stock.

A number of other research analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Cullinan Oncology in a report on Thursday, March 14th. Wedbush started coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.00.

Cullinan Oncology Stock Performance

Shares of CGEM opened at $17.32 on Monday. The stock’s fifty day moving average is $17.30 and its 200-day moving average is $12.53. Cullinan Oncology has a one year low of $7.64 and a one year high of $20.62. The firm has a market capitalization of $745.97 million, a price-to-earnings ratio of -4.69 and a beta of 0.33.

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

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 Investors Weigh In On Cullinan Oncology

Institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its holdings in Cullinan Oncology by 1.3% during the third quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after purchasing an additional 1,347 shares during the period. Rhumbline Advisers raised its position in shares of Cullinan Oncology by 4.7% in the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock worth $336,000 after buying an additional 1,445 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Cullinan Oncology by 5.6% in the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock worth $298,000 after buying an additional 1,500 shares in the last quarter. SG Americas Securities LLC raised its position in Cullinan Oncology by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after purchasing an additional 1,587 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Cullinan Oncology by 7.9% during the second quarter. California State Teachers Retirement System now owns 23,485 shares of the company’s stock valued at $253,000 after purchasing an additional 1,719 shares in the last quarter. 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.