Cullinan Oncology (NASDAQ:CGEM) Reaches New 1-Year High at $29.25

Cullinan Oncology, Inc. (NASDAQ:CGEM) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $29.25 and last traded at $28.48, with a volume of 124281 shares. The stock had previously closed at $27.58.

Analyst Ratings Changes

CGEM has been the topic of a number of research reports. William Blair assumed coverage on Cullinan Oncology in a report on Monday, April 15th. They set an “outperform” rating on the stock. HC Wainwright reduced their price objective on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Wedbush assumed coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price objective for the company. Jonestrading raised their price objective on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus started coverage on shares of Cullinan Oncology in a research report on Wednesday. They issued a “buy” rating and a $40.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.00.

Cullinan Oncology Stock Performance

The stock’s 50-day moving average price is $18.11 and its 200-day moving average price is $13.54. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.47 and a beta of -0.01.

Cullinan Oncology (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.42. Analysts anticipate that Cullinan Oncology, Inc. will post -3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its stake in Cullinan Oncology by 352.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock worth $50,000 after acquiring an additional 3,859 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cullinan Oncology by 1,331.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after acquiring an additional 6,085 shares during the period. Vontobel Holding Ltd. purchased a new stake in Cullinan Oncology in the 4th quarter worth approximately $102,000. Annandale Capital LLC grew its stake in Cullinan Oncology by 20.0% in the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after acquiring an additional 2,000 shares during the period. Finally, Bailard Inc. purchased a new stake in Cullinan Oncology in the 4th quarter worth approximately $110,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.