Cullinan Oncology, Inc. (NASDAQ:CGEM) Short Interest Up 53.9% in March

Cullinan Oncology, Inc. (NASDAQ:CGEMGet Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,440,000 shares, a growth of 53.9% from the March 15th total of 935,400 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 423,600 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports 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 objective for the company. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Cullinan Oncology in a research note on Thursday, March 14th.

View Our Latest Stock Report on CGEM

Insider Activity

In other Cullinan Oncology news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.09, for a total transaction of $563,600.00. Following the completion of the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,338,799.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 98,684 shares of company stock valued at $1,437,624 over the last ninety days. 8.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Oncology

A number of hedge funds have recently modified their holdings of CGEM. Blue Owl Capital Holdings LP bought a new stake in shares of Cullinan Oncology in the fourth quarter worth about $34,848,000. Assenagon Asset Management S.A. lifted its holdings in Cullinan Oncology by 380.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after buying an additional 482,234 shares during the period. Franklin Resources Inc. grew its position in shares of Cullinan Oncology by 13.5% in the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after buying an additional 390,505 shares during the last quarter. Millennium Management LLC increased its stake in shares of Cullinan Oncology by 2,959.3% during the second quarter. Millennium Management LLC now owns 321,684 shares of the company’s stock valued at $4,124,000 after buying an additional 311,169 shares during the period. Finally, Affinity Asset Advisors LLC bought a new position in shares of Cullinan Oncology during the fourth quarter valued at approximately $3,057,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Stock Down 4.0 %

Shares of Cullinan Oncology stock traded down $0.70 during trading on Friday, reaching $16.67. The company’s stock had a trading volume of 185,126 shares, compared to its average volume of 407,838. The firm’s 50-day moving average is $17.37 and its two-hundred day moving average is $12.34. Cullinan Oncology has a 52-week low of $7.64 and a 52-week high of $19.68. The company has a market cap of $717.98 million, a price-to-earnings ratio of -4.62 and a beta of 0.33.

Cullinan Oncology (NASDAQ:CGEMGet Free Report) last issued its earnings results on Thursday, March 14th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.42. On average, equities research analysts anticipate that Cullinan Oncology will post -3.55 EPS for the current year.

About Cullinan Oncology

(Get Free Report)

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.

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