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Cullinan Management
(NASDAQ:CGEM)
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Rating:54Neutral
Price Target:
$21.00
▼(-7.08% Downside)
Action:Reiterated
Date:09/14/26
The score is held back primarily by weak financial performance (no revenue, large losses, and substantial cash burn despite low debt). Offsetting this, corporate events are meaningfully positive due to Phase 3 clinical success and potential regulatory path, while technicals are moderately supportive but mixed in the near term; valuation is difficult to assess given negative earnings and no indicated dividend.
Positive Factors
Phase 3 Clinical Success
Positive Phase 3 results materially strengthen zipalertinib’s clinical validation and support a potential regulatory filing. A meaningful progression-free-survival benefit, alongside encouraging interim survival data, improves the probability that the program can become a durable commercial asset.
Negative Factors
Pre-Commercial Revenue Base
The absence of recurring product revenue means Cullinan currently lacks an operating income stream to fund development internally. Until a program reaches commercialization, the company remains dependent on financing and successful clinical execution, making the business model structurally higher risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase 3 Clinical Success
Positive Phase 3 results materially strengthen zipalertinib’s clinical validation and support a potential regulatory filing. A meaningful progression-free-survival benefit, alongside encouraging interim survival data, improves the probability that the program can become a durable commercial asset.
Read all positive factors
Cullinan Management (CGEM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.36B
Dividend YieldN/A
Average Volume (3M)860.76K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue GrowthN/A
EPS Growth3.56%
CountryUS
Employees109
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.37
Shares Outstanding64,354,690
10 Day Avg. Volume1,144,158
30 Day Avg. Volume860,764
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.50
Price to Sales (P/S)0.00
P/FCF Ratio-3.48
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$34.78Price Target Upside53.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)-3.18
Revenue Forecast (FY)$13.55M
Cullinan Management Business Overview & Revenue Model
Company Description
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 dise...
Cullinan Management Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 18.94M |
| Gross Profit | 0.00 | 0.00 | -306.00K | -310.00K | 0.00 | 18.94M |
| EBITDA | -208.41M | -219.57M | -167.15M | -190.34M | -132.04M | -67.43M |
| Net Income | -204.69M | -219.88M | -167.38M | -153.16M | 111.21M | -65.57M |
Balance Sheet | ||||||
| Total Assets | 363.79M | 448.37M | 621.82M | 484.18M | 561.12M | 437.19M |
| Cash, Cash Equivalents and Short-Term Investments | 334.54M | 377.90M | 398.98M | 467.07M | 467.29M | 290.47M |
| Total Debt | 2.07M | 2.68M | 2.15M | 3.59M | 5.19M | 0.00 |
| Total Liabilities | 42.03M | 39.64M | 31.50M | 30.29M | 26.09M | 11.81M |
| Stockholders Equity | 321.75M | 408.73M | 590.33M | 453.70M | 535.03M | 424.97M |
Cash Flow | ||||||
| Free Cash Flow | -159.30M | -175.80M | -145.30M | -134.48M | -127.80M | -44.02M |
| Operating Cash Flow | -159.25M | -175.75M | -145.30M | -134.28M | -126.66M | -43.43M |
| Investing Cash Flow | 162.88M | 179.99M | -136.31M | 35.81M | 248.97M | -333.77M |
| Financing Cash Flow | 2.19M | 1.09M | 266.19M | 40.75M | -25.93M | 268.78M |
Cullinan Management Technical Analysis
Positive
22.60
Price Trends
19.64
Positive
17.52
Positive
15.10
Positive
Market Momentum
0.27
Positive
52.62
Neutral
63.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CGEM, the sentiment is Positive. The current price of 22.6 is above the 20-day moving average (MA) of 21.63, above the 50-day MA of 19.64, and above the 200-day MA of 15.10, indicating a neutral trend. The MACD of 0.27 indicates Positive momentum. The RSI at 52.62 is Neutral, neither overbought nor oversold. The STOCH value of 63.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CGEM.
Cullinan Management Risk Analysis
Cullinan Management disclosed 80 risk factors in its most recent earnings report. Cullinan Management reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cullinan Management Peers Comparison
UnderperformOutperform
Sector (51)
CGEM
Cullinan Management
21.08
14.80
235.67%
RNTX
Rein Therapeutics
0.80
-0.38
-32.20%
NEUP
Neuphoria Therapeutics
3.70
-6.16
-62.47%
Cullinan Management Corporate Events
Business Operations and StrategyProduct-Related Announcements
Cullinan Highlights Positive Phase 3 Lung Cancer Results
Positive
Sep 14, 2026
On September 13, 2026, Cullinan Therapeutics and its partners Taiho Oncology and Taiho Pharmaceutical reported Phase 3 data from the global REZILIENT3 trial in first-line treatment of advanced non-small cell lung cancer with EGFR exon 20 insertion...
Business Operations and StrategyProduct-Related Announcements
Cullinan Reports Positive Phase 3 Zipalertinib Lung Cancer Data
Positive
Aug 13, 2026
On August 12, 2026, Cullinan Therapeutics and Taiho announced that the global Phase 3 REZILIENT3 trial of zipalertinib plus platinum-based chemotherapy in first-line treatment of EGFR exon 20 insertion-mutated non-small cell lung cancer met its pr...
Executive/Board ChangesShareholder Meetings
Cullinan Therapeutics Shareholders Back Directors and Governance Measures
Positive
Jun 16, 2026
Cullinan Therapeutics held its Annual Meeting of Stockholders on June 16, 2026, where investors voted on board composition, auditor retention and executive pay. Stockholders elected Nadim Ahmed and Stephen Webster as Class III directors to the boa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.