CGEM Stock Analysis: Cullinan Oncology | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 986m USD | 12M Return: 120.3% | US2300311063 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 21.8M
Qual. Beats: -1
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Cullinan Therapeutics, Inc. (NASDAQ: CGEM) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, that develops therapies for autoimmune diseases and cancer. The company was incorporated in 2016, completed its IPO in January 2021, and rebranded from Cullinan Oncology, Inc. to Cullinan Therapeutics, Inc. in April 2024.
Its pipeline includes several bispecific T cell engagers-engineered antibodies designed to simultaneously bind two targets and direct immune cells against disease-most notably CLN-978 (CD19xCD3) and velinotamig (BCMAxCD3) for autoimmune diseases, and CLN-049 (FLT3xCD3) for relapsed/refractory acute myeloid leukemia and myelodysplastic syndrome. The company is also advancing zipalertinib, an oral irreversible EGFR inhibitor being studied in the REZILIENT1 trial for patients with EGFR exon 20 insertion-mutant non-small cell lung cancer, a genetically defined NSCLC subtype.
As a pre-revenue clinical-stage biotech, Cullinan relies on a partnership-driven business model, supported by license and co-development agreements with Chongqing Genrix Biopharmaceutical (velinotamig) and Taiho Pharmaceutical (zipalertinib), as well as a discovery collaboration with Adimab, LLC for antibody optimization.
- Zipalertinib Phase 2b EGFR lung cancer data readout expected
- CLN-978 CD19 bispecific Phase 1 autoimmune trial advances
- Cash position and potential dilution risk as clinical-stage biotech
| Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM) |
| FCF/TA: -0.44 > 0.02 and ΔFCF/TA -10.82 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.44 > 3% & CFO -159.2m > Net Income -204.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (61.5m) vs 12m ago 4.20% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.0% > 50% (prev 0.0%; Δ 0.0% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.83 (Total Current Assets 342.0m - Total Current Liabilities 40.6m) / Total Assets 363.8m |
| B: -1.90 (Retained Earnings -691.5m / Total Assets 363.8m) |
| C: -0.47 (EBIT TTM -208.7m / Avg Total Assets 442.1m) |
| D: 7.65 (Book Value of Equity 321.8m / Total Liabilities 42.0m) |
| Altman-Z'' = 4.10 = AA |
As of October 12, 2026, the stock is trading at USD 15.53 with a total of 566,369 shares traded. Over the past week, the price has changed by +0.13%, over one month by -27.12%, over three months by -15.51% and over the past year by +120.28%.
Current recommended Stop Loss: 13.40 (which is 13.7% or 1.8 ATR below the current price).
Cullinan Oncology has received a consensus analysts rating of 4.92. Therefore, it is recommended to buy CGEM.
- StrongBuy: 11
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 33.5 | 115.4% |
P/E Forward = 6.7385
P/S = 25.8559
P/B = 3.3722
Revenue TTM = 0.0 USD
EBIT TTM = -208.7m USD
EBITDA TTM = -208.4m USD
Long Term Debt = 1.41m USD (estimated: total debt 2.07m - short term 666k)
Short Term Debt = 666k USD (from shortTermDebt, last quarter)
Debt = 2.07m USD (from shortLongTermDebtTotal, last quarter) (leases 2.07m already included)
Net Debt = -332.5m USD (calculated: Debt 2.07m - CCE 334.5m)
Enterprise Value = 653.3m USD (985.8m + Debt 2.07m - CCE 334.5m)
Interest Coverage Ratio = unknown (Ebit TTM -208.7m / Interest Expense TTM 0.0)
EV/FCF = -4.10x (Enterprise Value 653.3m / FCF TTM -159.3m)
FCF Yield = -24.38% (FCF TTM -159.3m / Enterprise Value 653.3m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 311k) / Revenue TTM)
Tobins Q-Ratio = 1.80 (Enterprise Value 653.3m / Total Assets 363.8m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 2.07m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -164.9m (EBIT -208.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.42 (Total Current Assets 342.0m / Total Current Liabilities 40.6m)
Debt / Equity = 0.01 (Debt 2.07m / totalStockholderEquity, last quarter 321.8m)
Debt / EBITDA = 1.60 (negative EBITDA) (Net Debt -332.5m / EBITDA -208.4m)
Debt / FCF = 2.09 (negative FCF - burning cash) (Net Debt -332.5m / FCF TTM -159.3m)
Total Stockholder Equity = 387.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -46.30% (Net Income -204.7m / Total Assets 363.8m)
RoE = -52.89% (Net Income TTM -204.7m / Total Stockholder Equity 387.0m)
RoCE = -53.74% (EBIT -208.7m / Capital Employed (Equity 387.0m + L.T.Debt 1.41m))
RoIC = -50.92% (negative operating profit) (NOPAT -164.9m / Invested Capital 323.8m)
WACC = 10.26% (E(985.8m)/V(987.9m) * Re(10.28%) + D(2.07m)/V(987.9m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 10.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 70.72 | Cagr: 17.22%
[DCF] Fair Price = unknown (Cash Flow -159.3m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.85 | # QB: -1
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.84 | Chg30d=+0.92% | Revisions=+25% | Analysts=9
EPS current Year (2026-12-31): EPS=-3.13 | Chg30d=+1.23% | Revisions=+40% | GrowthEPS=+7.0% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-2.52 | Chg30d=+7.18% | Revisions=+0% | GrowthEPS=+19.5% | GrowthRev=+280.4%
[Analyst] Revisions Ratio: +30% (up=5, down=2)