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CGEMCullinan Therapeutics, Inc.
$16.87$1.0B
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
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CGEM logo

Cullinan Therapeutics, Inc.

CGEM
NASDAQ · Pharmaceuticals
$16.87
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$1.04B
P/E-4.5x
52W High$23.19
Volume2.58M
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. The pipeline's progress is offset by a deteriorating cash position, with cash falling from $115.0M in 20...

GrowthStable
ProfitabilityNegative
ValuationReview
TechnicalsMixed
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

-122% Peers

P/E is 122% below peer median

03

Market leadership

RS 91 · Leader

High momentum (Outperforming 91% of market)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystConfirmed earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CGEM+66.70%
S&P 500 (^GSPC)+12.39%
1-Year Return
CGEM+177.01%
S&P 500 (^GSPC)+15.77%
3-Year Return
CGEM+74.10%
S&P 500 (^GSPC)+32.11%
5-Year Return
CGEM-28.73%
S&P 500 (^GSPC)+33.01%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-4.5x
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
-4.5x
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
-
Net income
-$220M-31.4% YoY
Free cash flow
-$176M-21.0% YoY
Operating margin
-
ROIC (TTM)-43.5%
Avg ROIC 5Y-
ROE (TTM)-44%
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

5 Stories
Defense World·Sep 15, 2026
Engineers Gate Manager LP Increases Stock Position in Cullinan Therapeutics, Inc. $CGEM

Engineers Gate Manager LP raised its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ: CGEM) by 130.9% in the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,050 shares of the company's stock after purchasing an additional 86,762 shares during

Seeking Alpha·Sep 14, 2026
Cullinan Therapeutics, Inc. (CGEM) Shareholder/Analyst Call Transcript

Cullinan Therapeutics, Inc. (CGEM) Shareholder/Analyst Call Transcript

GlobeNewsWire·Sep 14, 2026
Cullinan Therapeutics to Host Virtual Analyst and Investor Event Today to Feature Zipalertinib Plus Chemotherapy Phase 3 REZILIENT3 Data Presented at the IASLC 2026 World Conference on Lung Cancer

CAMBRIDGE, Mass., Sept. 14, 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 it will host a virtual event for analysts and institutional investors today at 8:00 a.m.

GuruFocus·Sep 13, 2026
Zipalertinib Plus Chemotherapy Demonstrates 6-Month Median Progression-Free Survival Benefit in REZILIENT3 Phase 3 Trial in First-Line EGFR Exon 20 Insertion Mutation Non-Small Cell Lung Cancer

Taiho Oncology, Inc., Taiho Pharmaceutical Co., Ltd., and Cullinan Therapeutics, Inc. (Nasdaq: CGEM) today announced results from the Phase 3 REZILIENT3 trial e

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
$16.87$1.04B-4.53——-44.02%—
IMVT logoIMVTImmunovant, Inc.
$34.54$7.13B-12.47—-7585.86%-69.59%—
KYMR logoKYMRKymera Therapeutics, Inc.
$115.47$9.5B-31.29-16.72%-285.41%-21.5%—
RCUS logoRCUSArcus Biosciences, Inc.
$26.39$3.32B-8.02-4.26%-386.32%-87.98%—
PRCT logoPRCTPROCEPT BioRobotics Corporation
$18.09$1.03B-10.5237.22%-32.54%-30.62%—
TPST logoTPSTTempest Therapeutics, Inc.
$0.92$14.04M-0.15——-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?

Cullinan Therapeutics, Inc. (CGEM) reported a net loss of $204.7M for fiscal year 2025.

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

Cullinan Therapeutics, Inc. (CGEM) has a return on equity (ROE) of -44.0%. Negative ROE indicates the company is unprofitable.

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

Cullinan Therapeutics, Inc. (CGEM) had negative free cash flow of $159.3M in fiscal year 2025, likely due to heavy capital investments.

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

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

See returns →