William Blair Comments on Cullinan Oncology, Inc.’s Q1 2024 Earnings (NASDAQ:CGEM)

Cullinan Oncology, Inc. (NASDAQ:CGEM) – Stock analysts at William Blair issued their Q1 2024 earnings per share estimates for shares of Cullinan Oncology in a research report issued on Monday, April 15th. William Blair analyst M. Phipps forecasts that the company will earn ($0.92) per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Cullinan Oncology’s current full-year earnings is ($3.55) per share. William Blair also issued estimates for Cullinan Oncology’s Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.89) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.30) EPS and FY2027 earnings at ($4.21) EPS.

A number of other equities analysts also recently weighed in on CGEM. BTIG Research upped their price target on shares of Cullinan Oncology from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush started coverage on shares of Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, HC Wainwright lowered their target price on shares of Cullinan Oncology from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $27.75.

Cullinan Oncology Stock Performance

Shares of NASDAQ CGEM traded up $0.56 during mid-day trading on Wednesday, reaching $17.88. The company had a trading volume of 1,260,645 shares, compared to its average volume of 456,405. Cullinan Oncology has a twelve month low of $7.64 and a twelve month high of $20.62. The stock has a market capitalization of $770.02 million, a PE ratio of -4.88 and a beta of 0.33. The stock’s 50 day moving average is $17.30 and its 200-day moving average is $12.53.

Cullinan Oncology (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42.

Insiders Place Their Bets

In other news, insider Corrine Savill sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $16.18, for a total value of $647,200.00. Following the sale, the insider now directly owns 165,990 shares of the company’s stock, valued at $2,685,718.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 98,684 shares of company stock valued at $1,437,624 over the last three months. 8.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cullinan Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Nuveen Asset Management LLC lifted its stake in shares of Cullinan Oncology by 1.3% in the third quarter. Nuveen Asset Management LLC now owns 107,360 shares of the company’s stock valued at $1,376,000 after buying an additional 1,347 shares during the period. Rhumbline Advisers lifted its stake in shares of Cullinan Oncology by 4.7% in 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 period. Alliancebernstein L.P. lifted its stake in shares of Cullinan Oncology by 5.6% in the fourth quarter. Alliancebernstein L.P. now owns 28,200 shares of the company’s stock valued at $298,000 after buying an additional 1,500 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cullinan Oncology by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after buying an additional 1,587 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Cullinan Oncology by 7.9% in the second quarter. California State Teachers Retirement System now owns 23,485 shares of the company’s stock valued at $253,000 after buying an additional 1,719 shares during the period. 86.31% of the stock is 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.