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CGEM
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CGEMCullinan Therapeutics, Inc.
$11.31$695M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
CGEM logo

Cullinan Therapeutics, Inc.

CGEM
NASDAQ · Immunology Biotech
$11.31
At close - Nov 6, 4:00 PM EST - USD
Market Cap$695M
P/E-3.4x
52W High$23.19
Volume755.51K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Pre-Revenue Burn Accelerates as Cash Runway Narrows

Cullinan Therapeutics is a clinical-stage biotech with no product revenue, evidenced by zero gross margin and operating losses averaging ~$55M per quarter.

GrowthStable
ProfitabilityNegative
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

CGEM price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

-113% Peers

P/E is 113% below peer median

03

Market leadership

RS 19 · Lag

Laggard (Underperforming 81% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 6

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CGEM+11.76%
S&P 500 (^GSPC)+7.63%
1-Year Return
CGEM+53.88%
S&P 500 (^GSPC)+9.69%
3-Year Return
CGEM+15.41%
S&P 500 (^GSPC)+75.66%
5-Year Return
CGEM-51.97%
S&P 500 (^GSPC)+62.57%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-3.4x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-3.4x
4.4x
0th· Low
EV/EBITDA
N/A
2.4x
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
-
Net income FY25
-$220M-31.4% YoY
Free cash flow FY25
-$176M-21.0% YoY
Operating margin FY25
-
ROIC (FY25)-43.5%
Avg ROIC 5Y-22.6%
ROE (TTM)-52.9%
Piotroski Score1 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
-$0.81-1.3%
vs -$0.80
—
vs $4M
Q2 2026
May 7, 2026
-$0.75+10.3%
vs -$0.84
—
vs $4M
Q2 2026
Mar 10, 2026
-$0.77+3.8%
vs -$0.80
—
vs $5M
Q4 2025
Nov 6, 2025
-$0.77+18.9%
vs -$0.95
—
vs $6M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
GlobeNewsWire·3d ago
Cullinan Therapeutics Announces Presentations for CLN-049, a FLT3 T Cell Engager, and Velinotamig, a BCMA T Cell Engager, at the 68th ASH Annual Meeting

CAMBRIDGE, Mass., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Cullinan Therapeutics, Inc. (Nasdaq: CGEM), a clinical-stage biopharmaceutical company accelerating potential first- or best-in-class, disease-modifying T cell engagers in autoimmune diseases and cancer, today announced that two of its T cell engager programs, CLN-049, a FLT3xCD3 T cell engager, and velinotamig (CLN-803), a BCMAxCD3 T cell engager, will be featured across four poster presentations at the 68th American Society of Hematology (ASH) Annual Meeting and Exposition, being held December 12-15 in New Orleans, Louisiana.

Zacks Investment Research·Oct 29, 2026
Does Cullinan Therapeutics (CGEM) Have the Potential to Rally 129.63% as Wall Street Analysts Expect?

The mean of analysts' price targets for Cullinan Therapeutics (CGEM) points to a 129.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

MarketBeat·Oct 28, 2026
3 Growth Stocks Under $20 With Hard Catalyst Dates Ahead

Small caps led the market into spring and have been handing it back ever since. The Russell 2000 has cooled, defense and drone names sit well off their highs, and the riskier corners of biotech and critical minerals have been marked down right alongside them.

GlobeNewsWire·Oct 27, 2026
Cullinan Therapeutics Advances Velinotamig into Global Clinical Development for Autoimmune Cytopenias Following IND Clearance by the U.S. FDA

Global regulatory clearances in the U.S. and Australia support initiation of a Phase 1b/2a study in relapsing and refractory ITP and wAIHA

Filtered for Cullinan Therapeutics, Inc.More Headlines
04

Compare before deciding

Benchmark CGEM against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Cullinan Therapeutics, Inc. (CGEM)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CGEM logoCGEMCullinan Therapeutics, Inc.Current
$11.31$695.09M-3.40——-52.89%—
IMVT logoIMVTImmunovant, Inc.
$30.53$6.3B-11.66—-7585.86%-69.59%—
KYMR logoKYMRKymera Therapeutics, Inc.
$131.73$10.84B-37.73-16.72%-341.87%-22.39%—
RCUS logoRCUSArcus Biosciences, Inc.
$18.28$2.3B-5.23-4.26%-445%-90.04%—
PRCT logoPRCTPROCEPT BioRobotics Corporation
$20.62$1.17B-10.2937.22%-32.6%-33.23%—
TPST logoTPSTTempest Therapeutics, Inc.
$0.38$5.79M-0.14——-1270.11%—

Compare CGEM vs Peers

Cullinan Therapeutics, Inc. (CGEM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IMVT

Most directly comparable listed peer for CGEM.

Scale Benchmark

vs MRK

Larger-name benchmark to compare CGEM against a more recognizable public peer.

Peer Set

Compare Top 5

vs IMVT, KYMR, RCUS, PRCT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CGEM SEC Filings & Documents

Cullinan Therapeutics, Inc. (CGEM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 13, 2026·SEC

Material company update

Aug 6, 2026·SEC

Material company update

Jun 16, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 10, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Mar 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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CGEM Frequently Asked Questions

Cullinan Therapeutics, Inc. (CGEM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
Is CGEM profitable?

No. Cullinan Therapeutics, Inc. (CGEM) reported a net loss of $204.7M over the trailing twelve months.

Dividend & Returns
What is CGEM's return on equity?

Cullinan Therapeutics, Inc. (CGEM) had a return on equity (ROE) of -52.9% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Cullinan Therapeutics, Inc.'s free cash flow?

Cullinan Therapeutics, Inc. (CGEM) had negative free cash flow of $159.3M over the trailing twelve months.

What if you invested $1,000 in CGEM back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →