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Cullinan Management
(NASDAQ:CGEM)
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Rating:59Neutral
Price Target:
$18.00
▲(19.52% Upside)
Action:Reiterated
Date:06/23/26
The score is held back primarily by weak financial performance (minimal revenue, large losses, and ongoing cash burn). Offsetting this are strong technical momentum and a low-leverage balance sheet, while recent positive early clinical data improves the outlook but remains early-stage. Valuation remains challenged given the negative P/E and lack of dividend yield data.
Positive Factors
Very low leverage
Cullinan's extremely low debt load is a durable financial strength: it lowers bankruptcy and interest-rate risk, preserves flexibility to fund R&D via non-debt means, and gives management time to advance clinical programs before needing urgent external borrowing.
Negative Factors
Sustained cash burn
Persistent, large negative operating cash flow is a structural constraint: ongoing cash burn requires repeated financing or partnerships, risks diluting shareholders, and can force prioritization or delay of programs if capital markets or partner deals slow over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Cullinan's extremely low debt load is a durable financial strength: it lowers bankruptcy and interest-rate risk, preserves flexibility to fund R&D via non-debt means, and gives management time to advance clinical programs before needing urgent external borrowing.
Read all positive factors
Cullinan Management (CGEM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.09B
Dividend YieldN/A
Average Volume (3M)1.29M
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue GrowthN/A
EPS Growth-19.99%
CountryUS
Employees111
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)-3.75
Shares Outstanding61,458,046
10 Day Avg. Volume1,164,572
30 Day Avg. Volume1,292,762
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 Cap0.74
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-10.31K
Enterprise Value/Ebitda-3.69
Forecast
1Y Price Target
$33.56Price Target Upside122.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)-3.04
Revenue Forecast (FY)$19.68M
Cullinan Management Business Overview & Revenue Model
Company Description
Cullinan Therapeutics, Inc. operates as a biopharmaceutical firm actively advancing its therapeutic candidates through clinical trials. This company is focused on developing innovative treatments primarily for cancer, including those that leverage...
How the Company Makes Money
Cullinan Oncology generates revenue primarily through the development, commercialization, and partnership of its oncology drug candidates. The company collaborates with research organizations, licensing its proprietary technologies and intellectua...
Cullinan Management Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
26
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 | -79.00K | 0.00 | -306.00K | -310.00K | 0.00 | 18.94M |
| EBITDA | -220.72M | -219.57M | -167.15M | -190.34M | -132.04M | -67.43M |
| Net Income | -221.04M | -219.88M | -167.38M | -153.16M | 111.21M | -65.57M |
Balance Sheet | ||||||
| Total Assets | 402.98M | 448.37M | 621.82M | 484.18M | 561.12M | 437.19M |
| Cash, Cash Equivalents and Short-Term Investments | 351.88M | 377.90M | 398.98M | 467.07M | 467.29M | 290.47M |
| Total Debt | 2.38M | 2.68M | 2.15M | 3.59M | 5.19M | 0.00 |
| Total Liabilities | 36.81M | 39.64M | 31.50M | 30.29M | 26.09M | 11.81M |
| Stockholders Equity | 366.17M | 408.73M | 590.33M | 453.70M | 535.03M | 424.97M |
Cash Flow | ||||||
| Free Cash Flow | -178.69M | -175.80M | -145.30M | -134.48M | -127.80M | -44.02M |
| Operating Cash Flow | -178.64M | -175.75M | -145.30M | -134.28M | -126.66M | -43.43M |
| Investing Cash Flow | 175.60M | 179.99M | -136.31M | 35.81M | 248.97M | -333.77M |
| Financing Cash Flow | 1.47M | 1.09M | 266.19M | 40.75M | -25.93M | 268.78M |
Cullinan Management Technical Analysis
Positive
15.06
Price Trends
15.20
Positive
14.65
Positive
12.04
Positive
Market Momentum
0.96
Negative
64.41
Neutral
47.89
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 15.06 is below the 20-day moving average (MA) of 15.95, below the 50-day MA of 15.20, and above the 200-day MA of 12.04, indicating a bullish trend. The MACD of 0.96 indicates Negative momentum. The RSI at 64.41 is Neutral, neither overbought nor oversold. The STOCH value of 47.89 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 79 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
18.16
10.36
132.82%
RNTX
Rein Therapeutics
1.01
-0.48
-32.21%
NEUP
Neuphoria Therapeutics
3.59
-3.87
-51.88%
Cullinan Management Corporate Events
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...
Business Operations and StrategyProduct-Related Announcements
Cullinan Therapeutics Highlights Positive Early Autoimmune Trial Data
Positive
Jun 10, 2026
On June 10, 2026, Cullinan Therapeutics reported updated Phase 1 data from its OUTRACE trials of CLN-978 in treatment-refractory rheumatoid arthritis and moderate to severe systemic lupus erythematosus, showing robust efficacy in heavily pretreate...
Business Operations and Strategy
Cullinan Showcases Promising CLN-978 Phase 1 Autoimmune Data
Positive
Jun 8, 2026
On June 6, 2026, Cullinan Therapeutics presented initial Phase 1 data for CLN-978 in treatment-refractory systemic lupus erythematosus and rheumatoid arthritis at the EULAR Congress, based on 29 patients enrolled in the OUTRACE SLE and RA trials a...
Business Operations and StrategyProduct-Related Announcements
Cullinan Management Shares Promising Early CLN-978 Autoimmune Data
Positive
May 18, 2026
On May 18, 2026, Cullinan Therapeutics reported initial clinical data from two ongoing Phase 1 OUTRACE trials of CLN-978 in treatment-refractory rheumatoid arthritis and moderate to severe systemic lupus erythematosus. As of a January 14, 2026 cut...
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.