Cullinan Oncology (NASDAQ:CGEM) Trading Down 3.3%

Cullinan Oncology, Inc. (NASDAQ:CGEM)’s stock price fell 3.3% on Friday . The company traded as low as $17.47 and last traded at $17.47. 74,570 shares were traded during trading, a decline of 84% from the average session volume of 454,476 shares. The stock had previously closed at $18.06.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CGEM. Wedbush initiated coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price for the company. William Blair initiated coverage on shares of Cullinan Oncology in a research report on Monday. They issued an “outperform” rating for the company. BTIG Research upped their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Jonestrading upped their price target on shares of Cullinan Oncology from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reduced their price target 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $28.75.

Cullinan Oncology Trading Down 9.9 %

The company has a market cap of $701.18 million, a PE ratio of -4.63 and a beta of 0.33. The business’s 50-day simple moving average is $17.29 and its 200-day simple moving average is $12.60.

Cullinan Oncology (NASDAQ:CGEM) last released its earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. On average, research analysts predict that Cullinan Oncology, Inc. will post -3.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $16.18, for a total transaction of $647,200.00. Following the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,685,718.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 98,684 shares of company stock worth $1,437,624 in the last quarter. 8.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Cullinan Oncology by 145.6% during the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock valued at $483,000 after purchasing an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Cullinan Oncology by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock valued at $5,512,000 after purchasing an additional 482,234 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Cullinan Oncology by 186.1% during the 3rd quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock valued at $213,000 after purchasing an additional 15,308 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Cullinan Oncology by 15.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after buying an additional 16,700 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Cullinan Oncology in the 3rd quarter valued at $181,000. Institutional investors own 86.31% of the company’s stock.

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.