Nadim Ahmed Buys 8,090 Shares of Cullinan Oncology, Inc. (NASDAQ:CGEM) Stock
Cullinan Oncology, Inc. (NASDAQ:CGEM – Get Rating) CEO Nadim Ahmed acquired 8,090 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was purchased at an average price of $12.40 per share, with a total value of $100,316.00. Following the transaction, the chief executive officer now owns 8,090 shares in the company, valued at $100,316. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cullinan Oncology stock traded up $0.86 on Tuesday, hitting $13.14. 264,882 shares of the company traded hands, compared to its average volume of 396,855. Cullinan Oncology, Inc. has a 12-month low of $7.30 and a 12-month high of $34.44. The firm’s 50-day simple moving average is $10.90 and its 200 day simple moving average is $13.35.
Cullinan Oncology (NASDAQ:CGEM – Get Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.34. On average, analysts predict that Cullinan Oncology, Inc. will post 3.39 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in Cullinan Oncology by 17,133.5% during the second quarter. Morgan Stanley now owns 66,349 shares of the company’s stock valued at $1,709,000 after acquiring an additional 65,964 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Cullinan Oncology by 93.5% during the second quarter. Wells Fargo & Company MN now owns 7,923 shares of the company’s stock valued at $204,000 after buying an additional 3,828 shares during the last quarter. BlackRock Inc. raised its position in shares of Cullinan Oncology by 72.9% in the 3rd quarter. BlackRock Inc. now owns 1,629,594 shares of the company’s stock valued at $36,780,000 after purchasing an additional 687,316 shares during the last quarter. Citigroup Inc. raised its position in Cullinan Oncology by 265.7% during the 3rd quarter. Citigroup Inc. now owns 3,171 shares of the company’s stock worth $72,000 after buying an additional 2,304 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cullinan Oncology by 1,175.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 157,501 shares of the company’s stock worth $3,555,000 after purchasing an additional 145,148 shares during the period. 93.62% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on CGEM. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Cullinan Oncology in a report on Tuesday, May 17th. SVB Leerink reissued an “outperform” rating on shares of Cullinan Oncology in a research note on Tuesday, February 8th. Finally, Zacks Investment Research raised shares of Cullinan Oncology from a “sell” rating to a “hold” rating and set a $12.00 target price on the stock in a research note on Monday, May 16th.
Cullinan Oncology Company Profile (Get Rating)
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.
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