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Updated: Aug 17, 2026
CGEM Logo

Cullinan Therapeutics

NASDAQ:CGEM·Stock Analysis Report
Day Range
$21.46 - $21.72
Market Cap
1.29B
P/E Ratio
0.0000
Avg Value
$13.45
Year Range
$5.68 - $21.22
$21.50$0.12 (0.56%)
1
General Information
Cullinan Therapeutics Inc is a clinical-stage biopharmaceutical company developing therapies for autoimmune diseases and cancer.

Its development pipeline comprises the following drug candidates: CLN-978, a CD19xCD3 bispecific T cell engager that is being developed for autoimmune diseases; CLN-049, a FLT3xCD3 bispecific T cell engager being evaluated in an ongoing clinical trial in patients with relapsed/refractory acute myeloid leukemia (AML) or myelodysplastic syndrome (MDS); Velinotamig, a BCMAxCD3 bispecific T cell engager being developed to counter autoimmune diseases; and Zipalertinib, being developed as a treatment for non-small cell lung cancer. Additionally, the company is developing several preclinical programs in autoimmune diseases and oncology.

2
Cullinan Therapeutics (CGEM) Stock Graph
3
How We Grade Cullinan Therapeutics (CGEM)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade Cullinan Therapeutics (CGEM) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Peer Ratings

See how Cullinan Therapeutics compares to its peers in these key performance metrics from Benzinga Rankings.

Top Peers
Value
Quality
Growth
Momentum
Short
Medium
Long
MGTXMeiraGTx Holdings
63.69
N/A
N/A
96.28
INBXInhibrx Biosciences
N/A
N/A
N/A
97.93
IMTXImmatics
N/A
N/A
N/A
41.48
GLUEMonte Rosa Therapeutics
N/A
N/A
N/A
94.87
Short: price trend over the last couple of months
Medium: price trend over the last couple of quarters
Long: price trend over the past year
Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
6
Future Growth
Our estimate of future price growth is based on an aggregation of 6 analyst ratings over the past 3 months and their 12-month price targets.

Below, you can see that analysts are estimating a 12-month price target range of $30.00 - $42.00 with an average of $36.00

79.73%
Expected movement for Cullinan Therapeutics (CGEM) over the next 12 months
Based on these rankings

Recent Ratings for Cullinan Therapeutics (CGEM)

HC Wainwright & Co.
Date:
Aug 17, 2026
Action:
Reiterates
Prev. Target:
$30.00
New Target:
$30.00
Wedbush
Date:
Aug 13, 2026
Action:
Maintains
Prev. Target:
$39.00
New Target:
$42.00
BTIG
Date:
Jul 29, 2026
Action:
Maintains
Prev. Target:
$38.00
New Target:
$39.00
Wedbush
Date:
Jun 11, 2026
Action:
Reiterates
Prev. Target:
$37.00
New Target:
$37.00
HC Wainwright & Co.
Date:
Jun 8, 2026
Action:
Reiterates
Prev. Target:
$30.00
New Target:
$30.00
BTIG
Date:
May 19, 2026
Action:
Reiterates
Prev. Target:
$38.00
New Target:
$38.00
7
Past Performance
How has Cullinan Therapeutics (CGEM) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

Cullinan Therapeutics (CGEM) sharpe ratio over the past 5 years is -0.3374 which is considered to be below average compared to the peer average of -0.1686

8
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is CGEM's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Revenue
0.00
0.00
0.00
0.00
0.00
Operating Revenue
0.00
0.00
0.00
0.00
0.00
Cost Of Revenue
Gross Profit
Operating Expense
0.13
0.19
0.20
0.24
0.22
Selling General And Administration
0.04
0.04
0.05
0.05
0.05
Research and Development
0.09
0.15
0.14
0.19
0.17
Operating Income
-0.13
-0.19
-0.20
-0.24
-0.22
Net Non-Operating Interest Income Expense
0.01
0.02
0.03
0.02
0.02
Other Income Expense
0.00
0.00
0.00
0.00
Other Non-Operating Income Expenses
0.00
0.00
0.00
0.00
Pre-Tax Income
0.15
-0.17
-0.17
-0.22
-0.20
Tax Provision
0.04
-0.01
Net Income
0.11
-0.15
-0.17
-0.22
-0.20
Net Income Common Stockholders
0.11
-0.15
-0.17
-0.22
-0.20
Total Operating Income As Reported
0.14
-0.19
-0.20
-0.24
-0.22
Total Expenses
0.13
0.19
0.20
0.24
0.22
Net Income From Continuing And Discontinued Operation
0.11
-0.15
-0.17
-0.22
-0.20
Normalized Income
-0.09
-0.15
-0.17
-0.22
-0.20
Interest Income
0.01
0.02
0.03
0.02
0.02
Interest Expense
Net Interest Income
0.01
0.02
0.03
0.02
0.02
EBIT
-0.13
-0.19
-0.20
-0.24
-0.22
EBITDA
-0.13
-0.19
-0.20
-0.24
-0.22
Reconciled Cost Of Revenue
Reconciled Depreciation
0.00
0.00
0.00
0.00
0.00
Normalized EBITDA
-0.41
-0.19
-0.20
-0.24
-0.22
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.08
0.00
0.00
0.00
0.00
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Assets
0.56
0.48
0.62
0.45
0.36
Current Assets
0.47
0.48
0.41
0.39
0.34
Total Non-Current Assets
0.09
0.00
0.21
0.06
0.02
Total Liabilities Net Minority Interest
0.03
0.03
0.03
0.04
0.04
Current Liabilities
0.02
0.03
0.03
0.04
0.04
Other Non-Current Liabilities
Total Equity Gross Minority Interest
0.54
0.45
0.59
0.41
0.32
Stockholders Equity
Total Capitalization
0.54
0.45
0.59
0.41
0.32
Common Stock Equity
0.54
0.45
0.59
0.41
0.32
Net Tangible Assets
0.54
0.45
0.59
0.41
0.32
Working Capital
0.45
0.45
0.38
0.35
0.30
Invested Capital
0.54
0.45
0.59
0.41
0.32
Tangible Book Value
0.54
0.45
0.59
0.41
0.32
Total Debt
0.01
0.00
0.00
0.00
0.00
Net Debt
Share Issued
0.05
0.04
0.06
0.06
0.06
Ordinary Shares Number
0.05
0.04
0.06
0.06
0.06
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
-0.13
-0.13
-0.15
-0.18
-0.16
Net Income from Continuing Operations
0.11
-0.16
-0.17
-0.22
-0.20
Depreciation and Amortization
0.00
0.00
0.00
0.00
0.00
Deferred Tax
Deferred Income Tax
Stock-Based Compensation
0.03
0.03
0.04
0.04
0.03
Other Non-Cash Items
0.00
Change in Working Capital
0.01
0.00
0.00
0.01
0.02
Change in Receivables
Changes in Account Receivables
Change in Inventory
Change in Payables and Accrued Expense
0.01
0.01
0.00
0.01
0.01
Change in Payable
0.00
0.00
0.00
0.00
0.00
Change in Account Payable
0.00
0.00
0.00
0.00
0.00
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
Cash Flow from Continuing Investing Activities
0.25
0.04
-0.14
0.18
0.16
Net PPE Purchase and Sale
0.00
0.00
Net Business Purchase and Sale
Purchase of Business
Net Investment Purchase and Sale
-0.02
0.04
-0.14
0.18
0.16
Purchase of Investment
-0.38
-0.37
-0.72
-0.24
-0.07
Sale of Investment
0.35
0.41
0.58
0.42
0.23
Net Other Investing Changes
Financing Cash Flow
-0.03
0.04
0.27
0.00
0.00
Cash Flow from Continuing Financing Activities
-0.03
0.04
0.27
0.00
0.00
Net Issuance Payments of Debt
0.00
0.00
0.00
Net Long-Term Debt Issuance
0.00
0.00
0.00
Long-Term Debt Issuance
0.00
0.00
0.00
Long-Term Debt Payments
Net Short-Term Debt Issuance
Net Common Stock Issuance
0.00
Common Stock Issuance
0.00
Common Stock Payments
Cash Dividends Paid
Net Other Financing Charges
-0.03
End Cash Position
0.83
0.43
0.37
0.34
0.35
Changes in Cash
0.10
-0.06
-0.02
0.01
0.01
Beginning Cash Position
0.73
0.48
0.39
0.34
0.34
Capital Expenditure
Issuance of Capital Stock
0.00
Issuance of Debt
0.00
0.00
0.00
Repayment of Debt
Repurchase of Capital Stock
Free Cash Flow
-0.13
-0.13
-0.15
-0.18
-0.16