why Cullinan Oncology Inc. [CGEM] is a Good Choice for Investors After New Price Target of $28.75

Cullinan Oncology Inc. [NASDAQ: CGEM] surged by $0.05 during the normal trading session on Thursday and reaching a high of $10.35 during the day while it closed the day at $10.05. The company report on March 27, 2023 that Cullinan Oncology Announces U.S. FDA Clearance of Investigational New Drug Application for CLN-617, a Novel Fusion Protein Harnessing IL-2 and IL-12 Cytokines.

”Both IL-2 and IL-12 play a powerful role in stimulating an immune response to cancer, but previous attempts to harness these potent cytokines have been limited by significant systemic toxicities and a narrow therapeutic index” said Jeffrey Jones, MD, MPH, MBA, Chief Medical Officer, Cullinan Oncology. “Preclinical research shows that while CLN-617 is retained in the injected tumor, it mediates a broad anti-tumor immune response that clears both injected tumors and distant non-injected tumors and generates immunological memory to prevent recurrence. We look forward to working closely with investigators to initiate the Phase 1 trial and are proud to advance this program, which will be our sixth clinical-stage asset, to further our mission to create new standards of care for patients with cancer.”.

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Cullinan Oncology Inc. stock has also loss -1.47% of its value over the past 7 days. However, CGEM stock has declined by -7.63% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.95% and lost -4.74% year-on date.

The market cap for CGEM stock reached $394.06 million, with 45.76 million shares outstanding and 37.68 million shares in the current float. Compared to the average trading volume of 222.21K shares, CGEM reached a trading volume of 72132 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cullinan Oncology Inc. [CGEM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGEM shares is $28.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CGEM stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Cullinan Oncology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 21, 2022. The new note on the price target was released on April 27, 2021, representing the official price target for Cullinan Oncology Inc. stock. Previously, the target price had yet another raise to $52, while SVB Leerink analysts kept a Outperform rating on CGEM stock.

The Average True Range (ATR) for Cullinan Oncology Inc. is set at 0.52 The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 11.92.

CGEM stock trade performance evaluation

Cullinan Oncology Inc. [CGEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.47. With this latest performance, CGEM shares dropped by -9.13% in over the last four-week period, additionally sinking by -18.95% over the last 6 months – not to mention a drop of -17.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGEM stock in for the last two-week period is set at 39.68, with the RSI for the last a single of trading hit 37.49, and the three-weeks RSI is set at 41.44 for Cullinan Oncology Inc. [CGEM]. The present Moving Average for the last 50 days of trading for this stock 11.06, while it was recorded at 10.24 for the last single week of trading, and 12.21 for the last 200 days.

Cullinan Oncology Inc. [CGEM]: An insightful look at the core fundamentals

Cullinan Oncology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.10 and a Current Ratio set at 21.10.

Cullinan Oncology Inc. [CGEM]: Insider Ownership positions

There are presently around $376 million, or 82.30% of CGEM stock, in the hands of institutional investors. The top three institutional holders of CGEM stocks are: BIOIMPACT CAPITAL LLC with ownership of 7,648,268, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; BVF INC/IL, holding 7,509,059 shares of the stock with an approximate value of $75.09 million in CGEM stocks shares; and CHI ADVISORS LLC, currently with $33.17 million in CGEM stock with ownership of nearly 2.293% of the company’s market capitalization.

55 institutional holders increased their position in Cullinan Oncology Inc. [NASDAQ:CGEM] by around 1,802,648 shares. Additionally, 35 investors decreased positions by around 1,033,602 shares, while 20 investors held positions by with 34,810,453 shares. The mentioned changes placed institutional holdings at 37,646,703 shares, according to the latest SEC report filing. CGEM stock had 13 new institutional investments in for a total of 686,426 shares, while 13 institutional investors sold positions of 582,390 shares during the same period.


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