Symbols / CGEM Stock $15.73 -2.60% Cullinan Therapeutics, Inc.

Healthcare • Biotechnology • United States • NMS
CGEM (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. Nadim Ahmed M.S.
Exch · Country NMS · United States
Market Cap 966.74M
Enterprise Value 617.23M
Income -221.04M
Sales —
FCF (ttm) -102.82M
Book/sh 5.96
Cash/sh 5.73
Employees 109
Insider 10d —
IPO Jan 08, 2021
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E -6.18
PEG —
P/S —
P/B 2.64
P/C —
EV/EBITDA -2.57
EV/Sales —
Quick Ratio 10.09
Current Ratio 10.28
Debt/Eq 0.65
LT Debt/Eq —
EPS (ttm) -3.37
EPS next Y -2.54
EPS Growth —
Revenue Growth —
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-06
Earnings (prior) 2026-05-07
ROA -30.57%
ROE -48.16%
ROIC —
Gross Margin 0.00%
Oper. Margin 0.00%
Profit Margin 0.00%
Shs Outstand 61.46M
Shs Float 44.27M
Insider Own 0.45%
Instit Own 103.35%
Short Float 20.31%
Short Ratio 12.54
Short Interest 8.80M
52W High 16.74
vs 52W High -6.03%
52W Low 5.68
vs 52W Low 176.94%
Beta -0.09
Impl. Vol. 1.52%
Rel Volume 0.90
Avg Volume 854.49K
Volume 766.86K
Target (mean) $31.55
Tgt Median $30.00
Tgt Low $24.00
Tgt High $38.00
# Analysts 11
Recom Strong_buy
Prev Close $16.15
Price $15.73
Change -2.60%
About

Cullinan Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for autoimmune diseases and cancer in the United States. It engages in the development of CLN-978, a CD19xCD3 bispecific T cell engager for autoimmune diseases in Phase 1 clinical trials; Velinotamig, a BCMAxCD3 bispecific T cell in Phase 1 clinical trials in patients with autoimmune diseases; and CLN-049, a FLT3xCD3 bispecific T cell engager, which is in Phase 1 clinical trials in patients with relapsed and refractory acute myeloid leukemia or myelodysplastic syndrome. The company is also developing Zipalertinib, an orally available small-molecule, irreversible epidermal growth factor receptor inhibitor in Phase 2b portion of the REZILIENT1 clinical trial in patients with EGFR ex20ins non-small cell lung cancer. It has a license agreement with Chongqing Genrix Biopharmaceutical Co., Ltd to develop and commercialize velinotamig; a co-development agreement with Taiho Pharmaceutical Co., Ltd to develop zipalertinib; and a collaboration agreement with Adimab, LLC to discover and/or optimize antibodies. The company was formerly known as Cullinan Oncology, Inc. and changed its name to Cullinan Therapeutics, Inc. in April 2024. Cullinan Therapeutics, Inc. was incorporated in 2016 and is headquartered in Cambridge, Massachusetts.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$31.55
Mean price target
2. Current target
$15.73
Latest analyst target
3. DCF / Fair value
$-30.11
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$15.73
Low
$24.00
High
$38.00
Mean
$31.55

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-08 main Wedbush Outperform → Outperform $37
2026-05-04 reit BTIG Buy → Buy $38
2026-04-28 main HC Wainwright & Co. Buy → Buy $30
2026-04-28 reit BTIG Buy → Buy $38
2026-03-11 main Wedbush Outperform → Outperform $36
2026-02-17 init Citigroup — → Buy $33
2026-02-02 init Guggenheim — → Buy $30
2026-01-08 main HC Wainwright & Co. Buy → Buy $27
2025-12-09 main Wedbush Outperform → Outperform $34
2025-11-20 main HC Wainwright & Co. Buy → Buy $26
2025-09-12 reit HC Wainwright & Co. Buy → Buy $24
2025-09-10 reit BTIG Buy → Buy $32
2025-08-18 main Morgan Stanley Overweight → Overweight $28
2025-05-12 main UBS Buy → Buy $24
2025-04-16 reit HC Wainwright & Co. Buy → Buy $33
2025-02-28 reit HC Wainwright & Co. Buy → Buy $33
2025-02-28 main Stifel Buy → Buy $19
2024-10-24 init UBS — → Buy $30
2024-08-09 reit Wedbush Outperform → Outperform $36
2024-06-03 reit HC Wainwright & Co. Buy → Buy $28
News
RSS: Latest CGEM news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-05 MICHAELSON JENNIFER Officer — 4,000 $4.30 $17,200
2026-05-05 MICHAELSON JENNIFER Officer — 8,000 $14.60 $116,996
2026-03-05 MICHAELSON JENNIFER Officer — 4,000 $4.30 $17,200
2026-03-05 MICHAELSON JENNIFER Officer — 8,000 $15.68 $125,440
2026-02-25 MICHAELSON JENNIFER Officer — 1,780 $14.14 $25,169
2026-02-24 MICHAELSON JENNIFER Officer — 5,353 $13.99 $76,617
2026-02-24 SUMER JACQUELYN L Officer — 3,601 $14.47 $52,106
2026-02-24 JONES JEFFREY ALAN Officer — 4,582 $14.47 $66,302
2026-02-24 AHMED NADIM Chief Executive Officer — 13,515 $14.47 $195,562
2026-02-20 MICHAELSON JENNIFER Officer — 8,000 $4.30 $34,400
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.00
0.00
0.00
0.00
Operating Revenue
0.00
0.00
0.00
0.00
Operating Expense
241.65
+22.71%
196.92
+3.29%
190.65
+44.28%
132.14
Research And Development
187.40
+31.14%
142.90
-3.55%
148.16
+61.13%
91.95
Selling General And Administration
54.25
+0.43%
54.02
+27.12%
42.49
+5.73%
40.19
General And Administrative Expense
54.25
+0.43%
54.02
+27.12%
42.49
+5.73%
40.19
Other Gand A
54.25
+0.43%
54.02
+27.12%
42.49
+5.73%
40.19
Total Expenses
241.65
+22.71%
196.92
+3.29%
190.65
+44.28%
132.14
Operating Income
-241.65
-22.71%
-196.92
-3.29%
-190.65
-44.28%
-132.14
Total Operating Income As Reported
-241.65
-22.71%
-196.92
-3.05%
-191.09
-232.11%
144.65
EBITDA
-241.34
-22.75%
-196.61
-3.30%
-190.34
-44.15%
-132.04
Normalized EBITDA
-241.34
-22.75%
-196.61
-3.54%
-189.90
+53.55%
-408.83
Reconciled Depreciation
0.31
+1.63%
0.31
-1.29%
0.31
+233.33%
0.09
EBIT
-241.65
-22.71%
-196.92
-3.29%
-190.65
-44.28%
-132.14
Total Unusual Items
—
0.00
+100.00%
-0.44
-100.16%
276.79
Total Unusual Items Excluding Goodwill
—
0.00
+100.00%
-0.44
-100.16%
276.79
Special Income Charges
—
0.00
+100.00%
-0.44
-100.16%
276.79
Impairment Of Capital Assets
—
0.00
-100.00%
0.44
0.00
Net Income
-219.88
-31.36%
-167.38
-9.28%
-153.16
-237.72%
111.21
Pretax Income
-219.88
-31.30%
-167.46
+1.04%
-169.22
-211.83%
151.32
Net Non Operating Interest Income Expense
22.21
-25.11%
29.66
+37.14%
21.63
+227.14%
6.61
Net Interest Income
22.21
-25.11%
29.66
+37.14%
21.63
+227.14%
6.61
Interest Income Non Operating
22.21
-25.11%
29.66
+37.14%
21.63
+227.14%
6.61
Interest Income
22.21
-25.11%
29.66
+37.14%
21.63
+227.14%
6.61
Other Income Expense
-0.44
-122.61%
-0.20
+1.00%
-0.20
-100.07%
276.84
Other Non Operating Income Expenses
-0.44
-122.61%
-0.20
-183.26%
0.24
+319.30%
0.06
Gain On Sale Of Business
—
—
0.00
-100.00%
276.79
Tax Provision
0.00
-100.00%
0.12
+100.83%
-14.12
-133.53%
42.12
Tax Rate For Calcs
0.00
-100.00%
0.00
+151.50%
0.00
-69.97%
0.00
Tax Effect Of Unusual Items
0.00
0.00
+100.00%
-0.04
-100.05%
76.97
Net Income Including Noncontrolling Interests
-219.88
-31.21%
-167.57
-8.04%
-155.10
-242.04%
109.19
Net Income From Continuing Operation Net Minority Interest
-219.88
-31.36%
-167.38
-9.28%
-153.16
-237.72%
111.21
Net Income From Continuing And Discontinued Operation
-219.88
-31.36%
-167.38
-9.28%
-153.16
-237.72%
111.21
Net Income Continuous Operations
-219.88
-31.21%
-167.57
-8.04%
-155.10
-242.04%
109.19
Minority Interests
0.00
-100.00%
0.19
-90.10%
1.94
-3.96%
2.02
Normalized Income
-219.88
-31.36%
-167.38
-9.57%
-152.76
-72.42%
-88.60
Net Income Common Stockholders
-219.88
-31.36%
-167.38
-9.28%
-153.16
-237.72%
111.21
Diluted EPS
—
-2.78
+13.40%
-3.21
-234.87%
2.38
Basic EPS
—
-2.78
+13.40%
-3.21
-230.49%
2.46
Basic Average Shares
—
53.77
+29.41%
41.55
-8.00%
45.16
Diluted Average Shares
—
53.77
+29.41%
41.55
-10.91%
46.64
Diluted NI Availto Com Stockholders
-219.88
-31.36%
-167.38
-9.28%
-153.16
-237.72%
111.21
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
448.37
-27.89%
621.82
+28.43%
484.18
-13.71%
561.12
Current Assets
386.76
-6.73%
414.67
-13.65%
480.19
+1.21%
474.47
Cash Cash Equivalents And Short Term Investments
377.90
-5.28%
398.98
-14.58%
467.07
-0.05%
467.29
Cash And Cash Equivalents
88.33
+6.42%
83.00
-15.67%
98.43
-36.96%
156.15
Cash Equivalents
—
—
—
—
Cash Financial
—
—
—
—
Other Short Term Investments
289.56
-8.36%
315.97
-14.29%
368.63
+18.48%
311.14
Prepaid Assets
—
—
—
—
Other Current Assets
8.86
-43.53%
15.69
+19.56%
13.12
+82.79%
7.18
Total Non Current Assets
61.62
-70.26%
207.16
+5090.58%
3.99
-95.39%
86.64
Net PPE
3.05
+29.83%
2.35
-33.47%
3.53
-33.41%
5.30
Gross PPE
4.02
+33.64%
3.01
-22.55%
3.88
-28.59%
5.44
Accumulated Depreciation
-0.97
-47.26%
-0.66
-86.93%
-0.35
-160.74%
-0.14
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
0.81
+6.41%
0.77
+0.00%
0.77
+12.33%
0.68
Other Properties
2.63
+57.77%
1.67
-34.45%
2.54
-38.43%
4.13
Leases
0.58
+0.00%
0.58
+0.00%
0.58
-8.28%
0.63
Investments And Advances
58.27
-71.50%
204.44
0.00
-100.00%
80.88
Other Non Current Assets
0.30
-18.85%
0.37
-20.26%
0.46
+0.00%
0.46
Total Liabilities Net Minority Interest
39.64
+25.87%
31.50
+3.99%
30.29
+16.10%
26.09
Current Liabilities
37.74
+23.15%
30.65
+8.92%
28.14
+25.06%
22.50
Payables And Accrued Expenses
26.01
+44.73%
17.97
-4.38%
18.80
+30.27%
14.43
Payables
9.62
+25.39%
7.68
-25.92%
10.36
+49.27%
6.94
Accounts Payable
0.84
-50.00%
1.68
-32.53%
2.49
-6.28%
2.66
Other Payable
8.78
+46.55%
5.99
-23.83%
7.87
—
Current Accrued Expenses
16.39
+59.15%
10.30
+22.09%
8.43
+12.66%
7.49
Pensionand Other Post Retirement Benefit Plans Current
9.95
+0.17%
9.94
+42.19%
6.99
+54.72%
4.52
Total Tax Payable
—
—
0.00
-100.00%
4.28
Income Tax Payable
—
—
0.00
-100.00%
4.28
Current Debt And Capital Lease Obligation
0.78
-40.09%
1.30
-9.58%
1.44
-9.94%
1.60
Current Debt
—
—
—
0.18
Other Current Borrowings
—
—
—
0.18
Current Capital Lease Obligation
0.78
-40.09%
1.30
-9.58%
1.44
+1.34%
1.42
Other Current Liabilities
1.00
-30.69%
1.44
+57.22%
0.91
-53.25%
1.96
Total Non Current Liabilities Net Minority Interest
1.90
+124.15%
0.85
-60.51%
2.15
-40.11%
3.59
Long Term Debt And Capital Lease Obligation
1.90
+124.15%
0.85
-60.51%
2.15
-40.11%
3.59
Long Term Capital Lease Obligation
1.90
+124.15%
0.85
-60.51%
2.15
-40.11%
3.59
Non Current Deferred Liabilities
—
—
—
0.00
Stockholders Equity
408.73
-30.76%
590.33
+30.11%
453.70
-15.20%
535.03
Common Stock Equity
408.73
-30.76%
590.33
+30.11%
453.70
-15.20%
535.03
Capital Stock
0.01
+0.00%
0.01
+50.00%
0.00
-20.00%
0.01
Common Stock
0.01
+0.00%
0.01
+50.00%
0.00
-20.00%
0.01
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
60.24
+2.96%
58.51
+36.39%
42.90
-6.32%
45.80
Ordinary Shares Number
60.24
+2.96%
58.51
+36.39%
42.90
-6.32%
45.80
Additional Paid In Capital
995.82
+3.87%
958.70
+46.44%
654.68
+11.85%
585.32
Retained Earnings
-588.12
-59.71%
-368.24
-83.33%
-200.86
-321.13%
-47.70
Gains Losses Not Affecting Retained Earnings
1.02
+866.92%
-0.13
-3.10%
-0.13
+95.04%
-2.60
Minority Interest
0.00
0.00
-100.00%
0.19
0.00
Other Equity Adjustments
1.02
+866.92%
-0.13
-3.10%
-0.13
+95.04%
-2.60
Total Equity Gross Minority Interest
408.73
-30.76%
590.33
+30.06%
453.89
-15.16%
535.03
Total Capitalization
408.73
-30.76%
590.33
+30.11%
453.70
-15.20%
535.03
Working Capital
349.01
-9.12%
384.02
-15.05%
452.05
+0.02%
451.97
Invested Capital
408.73
-30.76%
590.33
+30.11%
453.70
-15.23%
535.21
Total Debt
2.68
+24.73%
2.15
-40.08%
3.59
-30.82%
5.19
Capital Lease Obligations
2.68
+24.73%
2.15
-40.08%
3.59
-28.36%
5.01
Net Tangible Assets
408.73
-30.76%
590.33
+30.11%
453.70
-15.20%
535.03
Tangible Book Value
408.73
-30.76%
590.33
+30.11%
453.70
-15.20%
535.03
Held To Maturity Securities
58.27
-71.50%
204.44
0.00
-100.00%
80.88
Investmentin Financial Assets
58.27
-71.50%
204.44
0.00
-100.00%
80.88
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-175.75
-20.95%
-145.30
-8.21%
-134.28
-6.01%
-126.66
Cash Flow From Continuing Operating Activities
-175.75
-20.95%
-145.30
-8.21%
-134.28
-6.01%
-126.66
Net Income From Continuing Operations
-219.88
-31.21%
-167.57
-8.04%
-155.10
-242.04%
109.19
Depreciation Amortization Depletion
0.31
+1.63%
0.31
-1.29%
0.31
+233.33%
0.09
Depreciation And Amortization
0.31
+1.63%
0.31
-1.29%
0.31
+233.33%
0.09
Other Non Cash Items
—
—
0.13
-64.97%
0.37
Stock Based Compensation
36.04
-4.72%
37.82
+24.27%
30.44
+8.87%
27.96
Asset Impairment Charge
—
0.00
-100.00%
0.44
0.00
Operating Gains Losses
—
—
—
-276.75
Gain Loss On Investment Securities
—
—
—
0.11
Gain Loss On Sale Of PPE
—
—
0.00
+100.00%
-0.08
Change In Working Capital
14.08
+3720.57%
-0.39
-14.75%
-0.34
-103.03%
11.18
Change In Prepaid Assets
6.90
+379.00%
-2.47
+58.41%
-5.94
-426.02%
-1.13
Change In Payables And Accrued Expense
7.19
+245.03%
2.08
-62.84%
5.61
-54.45%
12.31
Change In Accrued Expense
8.03
+177.24%
2.90
-71.21%
10.05
+17.82%
8.53
Change In Payable
-0.84
-3.33%
-0.81
+81.75%
-4.45
-217.92%
3.77
Change In Account Payable
-0.84
-3.33%
-0.81
-386.23%
-0.17
+67.19%
-0.51
Change In Other Current Assets
—
—
—
—
Investing Cash Flow
179.99
+232.04%
-136.31
-480.70%
35.81
-85.62%
248.97
Cash Flow From Continuing Investing Activities
179.99
+232.04%
-136.31
-480.70%
35.81
-85.62%
248.97
Net PPE Purchase And Sale
-0.05
0.00
+100.00%
-0.21
+80.04%
-1.04
Purchase Of PPE
-0.05
0.00
+100.00%
-0.21
+81.64%
-1.13
Sale Of PPE
—
—
0.00
-100.00%
0.09
Capital Expenditure
-0.05
—
-0.21
+81.64%
-1.13
Net Investment Purchase And Sale
180.04
+232.08%
-136.31
-478.50%
36.01
+244.15%
-24.98
Purchase Of Investment
-236.53
+67.20%
-721.13
-93.13%
-373.38
+1.20%
-377.92
Sale Of Investment
416.57
-28.77%
584.82
+42.85%
409.40
+16.00%
352.93
Net Business Purchase And Sale
—
—
0.00
-100.00%
275.00
Gain Loss On Sale Of Business
—
—
0.00
+100.00%
-276.79
Financing Cash Flow
1.09
-99.59%
266.19
+553.21%
40.75
+257.14%
-25.93
Cash Flow From Continuing Financing Activities
1.09
-99.59%
266.19
+553.21%
40.75
+257.14%
-25.93
Net Issuance Payments Of Debt
—
0.00
-100.00%
1.82
+942.86%
0.17
Issuance Of Debt
—
0.00
-100.00%
1.82
-23.16%
2.38
Repayment Of Debt
—
—
0.00
+100.00%
-2.20
Long Term Debt Issuance
—
0.00
-100.00%
1.82
-23.16%
2.38
Long Term Debt Payments
—
—
0.00
+100.00%
-2.20
Net Long Term Debt Issuance
—
0.00
-100.00%
1.82
+942.86%
0.17
Net Common Stock Issuance
0.00
-100.00%
262.65
+584.20%
38.39
0.00
Proceeds From Stock Option Exercised
1.09
-86.37%
7.98
+1384.01%
0.54
-91.06%
6.02
Net Other Financing Charges
—
-4.45
—
-32.13
Changes In Cash
5.33
+134.53%
-15.43
+73.27%
-57.72
-159.89%
96.38
Beginning Cash Position
83.00
-15.67%
98.43
-36.96%
156.15
+161.24%
59.77
End Cash Position
88.33
+6.42%
83.00
-15.67%
98.43
-36.96%
156.15
Free Cash Flow
-175.80
-20.99%
-145.30
-8.05%
-134.48
-5.23%
-127.80
Interest Paid Supplemental Data
—
—
—
0.03
Income Tax Paid Supplemental Data
—
—
—
37.80
Amortization Of Securities
-6.31
+59.23%
-15.47
-52.34%
-10.15
-884.70%
1.29
Change In Income Tax Payable
—
0.00
+100.00%
-4.28
-200.00%
4.28
Change In Tax Payable
—
0.00
+100.00%
-4.28
-200.00%
4.28
Common Stock Issuance
0.00
-100.00%
262.65
+584.20%
38.39
0.00
Issuance Of Capital Stock
0.00
-100.00%
262.65
+584.20%
38.39
0.00
Sale Of Business
—
—
0.00
-100.00%
275.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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