Cullinan Oncology (NASDAQ:CGEM) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Cullinan Oncology (NASDAQ:CGEM) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $40.00 price objective on the stock.

Several other brokerages have also weighed in on CGEM. HC Wainwright decreased their price objective on Cullinan Oncology from $34.00 to $29.00 and set a buy rating for the company in a report on Tuesday, April 16th. BTIG Research lifted their target price on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. 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 assumed coverage on shares of Cullinan Oncology in a report on Monday, April 15th. They issued an outperform rating for the company. Finally, Jonestrading boosted their target price on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a buy rating in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Oncology presently has a consensus rating of Buy and a consensus price target of $31.00.

Cullinan Oncology Stock Up 2.8 %

Cullinan Oncology stock opened at $28.35 on Wednesday. The company has a market capitalization of $1.22 billion, a P/E ratio of -7.68 and a beta of -0.01. The firm has a 50 day moving average price of $18.32 and a 200-day moving average price of $13.68. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $29.25.

Cullinan Oncology (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.42. Equities analysts expect that Cullinan Oncology will post -3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Cullinan Oncology

Several hedge funds have recently bought and sold shares of CGEM. China Universal Asset Management Co. Ltd. lifted 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 purchasing an additional 3,859 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cullinan Oncology by 1,331.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock worth $59,000 after buying an additional 6,085 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Cullinan Oncology during the fourth quarter valued at $102,000. Annandale Capital LLC grew its position in Cullinan Oncology by 20.0% during the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after buying an additional 2,000 shares in the last quarter. Finally, Bailard Inc. bought a new position in Cullinan Oncology in the 4th quarter worth about $110,000. 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.