Jonestrading Boosts Cullinan Oncology (NASDAQ:CGEM) Price Target to $26.00

Cullinan Oncology (NASDAQ:CGEM) had its price target upped by analysts at Jonestrading from $22.00 to $26.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jonestrading’s price objective would indicate a potential upside of 45.41% from the company’s current price.

A number of other brokerages have also recently commented on CGEM. Wedbush assumed coverage on Cullinan Oncology in a research note on Thursday, February 15th. They issued an “outperform” rating and a $30.00 price target on the stock. HC Wainwright decreased their price target on Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday. William Blair assumed coverage on Cullinan Oncology in a research note on Monday. They issued an “outperform” rating on the stock. Finally, BTIG Research lifted their price target on Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Stock Up 3.2 %

Shares of NASDAQ CGEM opened at $17.88 on Wednesday. The business has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $12.57. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $20.62. The company has a market cap of $770.09 million, a P/E ratio of -4.85 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 the consensus estimate of ($0.96) by $0.42. Equities research analysts anticipate that Cullinan Oncology will post -3.6 EPS for the current year.

Insider Activity at Cullinan Oncology

In related news, insider Corrine Savill sold 40,000 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $14.09, for a total transaction of $563,600.00. Following the sale, the insider now directly owns 165,990 shares in the company, valued at $2,338,799.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 98,684 shares of company stock worth $1,437,624 over the last ninety days. 8.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its stake in Cullinan Oncology by 8.1% during the first quarter. Swiss National Bank now owns 36,200 shares of the company’s stock valued at $379,000 after buying an additional 2,700 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Cullinan Oncology by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 24,172 shares of the company’s stock valued at $253,000 after buying an additional 4,115 shares during the last quarter. MetLife Investment Management LLC raised its stake in Cullinan Oncology by 57.0% during the first quarter. MetLife Investment Management LLC now owns 15,398 shares of the company’s stock valued at $161,000 after buying an additional 5,590 shares during the last quarter. Rhumbline Advisers raised its stake in Cullinan Oncology by 4.7% during the first quarter. Rhumbline Advisers now owns 32,045 shares of the company’s stock valued at $336,000 after buying an additional 1,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cullinan Oncology by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 178,150 shares of the company’s stock valued at $1,866,000 after buying an additional 3,937 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

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.