Cullinan Oncology (NASDAQ:CGEM) Rating Reiterated by HC Wainwright

Cullinan Oncology (NASDAQ:CGEM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $34.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 121.93% from the company’s previous close.

Separately, Wedbush initiated coverage on Cullinan Oncology in a research report on Thursday, February 15th. They set an “outperform” rating and a $30.00 target price for the company.

Cullinan Oncology Stock Down 3.8 %

NASDAQ CGEM traded down $0.61 during trading hours on Thursday, hitting $15.32. 583,762 shares of the company were exchanged, compared to its average volume of 440,853. The stock has a 50-day moving average price of $15.64 and a 200 day moving average price of $11.50. Cullinan Oncology has a 52 week low of $7.64 and a 52 week high of $19.68. The stock has a market cap of $655.39 million, a PE ratio of -4.19 and a beta of 0.34.

Insider Transactions at Cullinan Oncology

In other news, CEO Nadim Ahmed sold 4,272 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $9.24, for a total transaction of $39,473.28. Following the transaction, the chief executive officer now directly owns 111,550 shares of the company’s stock, valued at $1,030,722. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Corrine Savill sold 40,000 shares of the stock in a transaction dated Monday, January 29th. The shares were 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 of the company’s stock, valued at approximately $2,338,799.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 4,272 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $9.24, for a total transaction of $39,473.28. Following the sale, the chief executive officer now directly owns 111,550 shares in the company, valued at $1,030,722. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,736 shares of company stock valued at $1,509,227. Corporate insiders own 8.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. China Universal Asset Management Co. Ltd. raised its holdings 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 valued at $50,000 after acquiring an additional 3,859 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Cullinan Oncology in the 2nd quarter valued at about $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cullinan Oncology by 1,331.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after acquiring an additional 6,085 shares during the last quarter. Point72 Middle East FZE acquired a new stake in Cullinan Oncology in the 2nd quarter valued at about $59,000. Finally, Royal Bank of Canada raised its holdings in Cullinan Oncology by 499.8% in the 2nd quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock valued at $97,000 after acquiring an additional 7,492 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

About Cullinan Oncology

Cullinan Oncology, Inc a clinical-stage biopharmaceutical company, focuses on developing a pipeline of targeted oncology and immuno-oncology therapies for cancer patients in the United States. The company's lead candidate is the CLN-081, an orally bioavailable small-molecule that is in a Phase IIb dose escalation for treating patients with non-small cell lung cancer.