CHI Advisors LLC recently announced the acquisition of new stake in Cullinan Oncology Inc. (NASDAQ:CGEM). The institutional investor has increased its shareholding in the Healthcare company by 6.42% to 3.24 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 7.09% valued currently at $34.22 million. In addition, The Vanguard Group, Inc. raised its holdings by 19122.0 to 2.73 million shares. And BlackRock Fund Advisors has lifted its position by 4.87% or 92438.0 shares – to 1.99 million shares.
With over 0.43 million Cullinan Oncology Inc. (CGEM) shares trading Tuesday and a closing price of $11.06 on the day, the dollar volume was approximately $4.77 million. The shares have shown a negative half year performance of -23.83% and its price on 01/24/23 gained nearly 5.53%. Currently, there are 45.61M common shares owned by the public and among those 37.68M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CGEM have a consensus price objective of $30.50. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $20.00. The average price target is 63.74% above its recent price level and an upside to the estimated low will see the stock gain 44.7% over that period. But an upside of 77.88% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
The top 3 mutual fund holders in Cullinan Oncology Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 0.92 million shares of the company’s stock, all valued at over $9.73 million. Vanguard Small Cap Index Fund sold 1008.0 shares to see its total holdings shrink to 0.83 million shares valued at over $8.71 million and representing 1.80% of the shares outstanding. iShares Russell 2000 ETF sold 6771.0 shares to bring its total holdings to over 0.65 million shares at a value of $6.85 million. iShares Russell 2000 ETF now owns shares totaling to 1.42% of the shares outstanding.
Shares of Cullinan Oncology Inc. (NASDAQ: CGEM) opened at $10.63, up $0.15 from a prior closing price of $10.48. However, the script later moved the day high at 11.17, up 5.53%. The company’s stock has a 5-day price change of 3.08% and -9.93% over the past three months. CGEM shares are trading 4.83% year to date (YTD), with the 12-month market performance down to -10.52% lower. It has a 12-month low price of $7.30 and touched a high of $15.89 over the same period. CGEM has an average intraday trading volume of 126.43K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.11%, -3.33%, and -9.51% respectively.
Institutional ownership of Cullinan Oncology Inc. (NASDAQ: CGEM) shares accounts for 82.30% of the company’s 45.61M shares outstanding. Mutual fund holders own 42.26%, while other institutional holders and individual stakeholders account for 45.17% and 17.17% respectively.
It has a market capitalization of $496.82M. The stock’s trailing 12-month PE ratio is 5.05, while the earnings-per-share (ttm) stands at $2.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.25% over the week and 6.34% over the month.
Analysts forecast that Cullinan Oncology Inc. (CGEM) will achieve an EPS of -$0.97 for the current quarter, -$0.88 for the next quarter and -$3.28 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.5 while analysts give the company a high EPS estimate of -$0.63. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.70%, and -228.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Cullinan Oncology Inc. (CGEM) as a “Strong Buy” at a consensus score of 1.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CGEM, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on November 21, 2022, with the firm’s price target at $20. Morgan Stanley coverage for the Cullinan Oncology Inc. (CGEM) stock in a research note released on April 27, 2021 offered a Overweight rating with a price target of $40. SVB Leerink was of a view on February 02, 2021 that the stock is Outperform, while Morgan Stanley gave the stock Equal-Weight rating on February 02, 2021, issuing a price target of $38. Evercore ISI on their part issued Outperform rating on February 02, 2021.