Cullinan Oncology Inc. (NASDAQ:CGEM) shares traded 2.44% higher at $12.59 on Wall Street last session.
CGEM stock price is now -0.67% away from the 50-day moving average and -0.46% away from the 200-day moving average. The market capitalization of the company currently stands at $577.00M.
With the price target maintained at $40, Morgan Stanley recently Upgraded its rating from Equal-Weight to Overweight for Cullinan Oncology Inc. (NASDAQ: CGEM). On February 02, 2021, SVB Leerink recently initiated its ‘Outperform’ rating on the stock quoting a target price of $52, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, Michaelson Jennifer, insider sold 4,000 shares of the company’s stock on Sep 27. The stock was sold for $49,600 at an average price of $12.40. Upon completion of the transaction, the insider now directly owns 53,031 shares in the company, valued at $0.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, 10% Owner F2 Vision SCS sold 25,989 shares of the business’s stock. A total of $371,788 was realized by selling the stock at an average price of $14.31. This leaves the insider owning 1,255,963 shares of the company worth $15.81 million. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CGEM stock. A new stake in Cullinan Oncology Inc. shares was purchased by HIGHVISTA STRATEGIES LLC during the first quarter worth $1,006,000. AMERICAN CENTURY COMPANIES INC invested $995,000 in shares of CGEM during the first quarter. In the first quarter, PARAMETRIC PORTFOLIO ASSOCIATES LLC acquired a new stake in Cullinan Oncology Inc. valued at approximately $824,000. VICTORY CAPITAL MANAGEMENT INC acquired a new stake in CGEM for approximately $529,000. MARTINGALE ASSET MANAGEMENT L P purchased a new stake in CGEM valued at around $390,000 in the second quarter. In total, there are 151 active investors with 84.00% ownership of the company’s stock.
Cullinan Oncology Inc. (NASDAQ: CGEM) opened at $12.99 on Monday. During the past 12 months, Cullinan Oncology Inc. has had a low of $7.30 and a high of $22.32. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 10.00, and a quick ratio of 10.00. The fifty day moving average price for CGEM is $12.67 and a two-hundred day moving average price translates $12.65 for the stock.
The latest earnings results from Cullinan Oncology Inc. (NASDAQ: CGEM) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at $3.77, missing analysts’ expectations of $5.42 by -1.65. This compares to -$0.38 EPS in the same period last year. The company reported revenue of -$239.68 million for the quarter, compared to $16.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1543.5 percent.
Cullinan Oncology Inc.(CGEM) Company Profile
Cullinan Oncology Inc., a 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 available small molecule that is in a Phase I/IIa dose escalation and expansion trial for treating patients with non-small cell lung cancer. Its preclinical products include CLN-049, a humanized bispecific antibody for the treatment of acute myeloid leukemia; CLN-619, a monoclonal antibody for the treatment of solid tumors; CLN-617, a fusion protein for the treatment of solid tumors; CLN-978, a T cell engaging antibody for B-cell malignancies; Opal, a bispecific fusion protein to block the PD-1 axis, and to activate the 4-IBB/CD137 pathway on T cells in tumors; and Jade, a cell therapy to target a novel senescence and cancer-related protein. The company has collaboration agreements with Cullinan Pearl Corp. to develop, manufacture, and commercialize CLN-081 and products containing CLN-081; and Adimab, LLC to discover and/or optimize antibodies. Cullinan Oncology, Inc. was incorporated in 2016 and is headquartered in Cambridge, Massachusetts.