Equities Analysts Issue Forecasts for Cullinan Oncology, Inc.’s Q2 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Equities research analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for Cullinan Oncology in a report released on Tuesday, April 16th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($0.67) per share for the quarter, up from their prior forecast of ($0.98). HC Wainwright has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.36) per share. HC Wainwright also issued estimates for Cullinan Oncology’s Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.78) EPS, FY2024 earnings at ($3.06) EPS, FY2025 earnings at ($2.52) EPS and FY2026 earnings at ($2.96) EPS.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

A number of other equities analysts also recently weighed in on the company. BTIG Research boosted their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Wedbush started coverage on Cullinan Oncology in a research report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 target price on the stock. Jonestrading upped their target price on Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, William Blair started coverage on Cullinan Oncology in a research report on Monday, April 15th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $28.75.

Cullinan Oncology Stock Down 13.3 %

Shares of NASDAQ CGEM opened at $15.66 on Thursday. The business’s 50 day moving average price is $17.23 and its two-hundred day moving average price is $12.66. The company has a market cap of $674.48 million, a PE ratio of -4.24 and a beta of 0.33. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62.

Insider Activity

In related news, insider Corrine Savill sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the completion of the sale, the insider now directly owns 165,990 shares in the company, valued at $2,685,718.20. The sale was disclosed in a filing with the SEC, which is available at this link. Over 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 insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several institutional investors have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP bought a new stake in Cullinan Oncology during the fourth quarter worth $34,848,000. Franklin Resources Inc. lifted its stake in Cullinan Oncology by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after purchasing an additional 390,505 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cullinan Oncology by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,765,005 shares of the company’s stock worth $35,447,000 after purchasing an additional 19,486 shares during the last quarter. BlackRock Inc. lifted its stake in Cullinan Oncology by 6.4% during the third quarter. BlackRock Inc. now owns 2,374,825 shares of the company’s stock worth $30,445,000 after purchasing an additional 143,098 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cullinan Oncology by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 915,758 shares of the company’s stock worth $9,332,000 after purchasing an additional 117,042 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

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.