Cullinan Therapeutics, Inc.(CGEM)Stock Analysis
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This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
CGEM Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Cullinan Therapeutics, Inc. (CGEM), a Healthcare sector company. CGEM is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), Cullinan Therapeutics, Inc. reports net income of $-49.7M, free cash flow of $-46.0M. Top institutional holders of CGEM by reported 13-F value include Lynx1 Capital Management, MPM BioImpact, BVF /IL, based on the most recent SEC filings. CGEM trades on the Nasdaq exchange and files with the SEC under CIK 1789972. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CGEM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Cullinan Therapeutics, Inc. directly from SEC EDGAR.
Net Income
Q1 2026
$-49.7M
Free Cash Flow
Q1 2026
$-46.0M
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
Net Income
-31.4% YoYOperating Income
-22.7% YoYEPS (Diluted)
Total Assets
-27.9% YoYOp. Cash Flow
-21.0% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0.00 -100.0% | $18.9M | $0.00 |
| Net Income | $-219.9M -31.4% | $-167.4M -9.3% | $-153.2M -237.7% | $111.2M +269.6% | $-65.6M -26.6% | $-51.8M |
| Operating Income | $-241.6M -22.7% | $-196.9M -3.1% | $-191.1M -232.1% | $144.6M +312.9% | $-68.0M -12.6% | $-60.3M |
| EPS (Diluted) | — | — | $-3.69 -255.0% | $2.38 +256.6% | $-1.52 | — |
| Total Assets | $448.4M -27.9% | $621.8M +28.4% | $484.2M -13.7% | $561.1M +28.3% | $437.2M +103.6% | $214.7M |
| Operating Cash Flow | $-175.8M -21.0% | $-145.3M -8.2% | $-134.3M -6.0% | $-126.7M -191.6% | $-43.4M -45.9% | $-29.8M |
AI Insight: CGEM Financial Trends
Cullinan's equity base has eroded 38% from $656M to $409M over six quarters as cash burn persists with zero revenue.
• Operating losses widened sharply in Q2 2025 to -$76M before moderating back to -$54M in Q1 2026.
• Equity has declined every quarter from $656M in Q2 2024 to $409M in Q4 2025 — a $247M drawdown in six quarters.
• Operating cash outflows spiked to -$58M in Q2 2025 but partially normalized to -$46M in Q1 2026.
⚠ No revenue across all observable periods; runway depends entirely on existing cash reserves shrinking each quarter.
⚠ Equity trajectory implies continued balance sheet erosion; pace of decline must slow or a capital raise becomes necessary.
AI Insight: CGEM Ratio Trends
CGEM's capital returns have deteriorated sharply, with ROIC worsening from -30.5% in Q2 2024 to -54.1% in Q4 2025 as cash burn accelerates.
• ROIC deteriorated steadily from -30.5% in Q2 2024 to -54.1% in Q4 2025, signaling accelerating capital consumption.
• ROE deepened from -25.6% in Q2 2024 to -49.6% in Q4 2025, reflecting sustained and growing net losses relative to equity.
• A sharp spike in Q2 2025 — ROE hit -56.9%, ROA -53.8%, ROIC -61.6% — suggests a one-off charge or elevated spend that quarter.
⚠ Q1 2026 return metrics are absent; confirmation of whether the Q4 2025 burn rate persists or stabilizes is critical.
⚠ ROA worsened from -24.7% to -45.2% over six quarters — cash runway and asset base adequacy warrant close monitoring.
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Available Research
13F Pro tracks comprehensive data for Cullinan Therapeutics, Inc. including:
Top Institutional Holders of CGEM
Lynx1 Capital Management LP
$127.4M8,963,500 shMPM BioImpact LLC
$108.7M7,648,268 shBVF INC/IL
$81.7M5,750,683 shBlackRock, Inc.
$63.2M4,449,966 shKynam Capital Management, LP
$44.3M3,114,132 shSTATE STREET CORP
$36.2M2,544,115 shVANGUARD CAPITAL MANAGEMENT LLC
$35.3M2,483,034 shBlue Owl Capital Holdings LP
$27.1M1,909,764 shRTW INVESTMENTS, LP
$24.2M1,705,960 shVR Adviser, LLC
$19.6M1,379,965 sh
| Fund | Value | Shares |
|---|---|---|
| Lynx1 Capital Management LP | $127.4M | 8,963,500 |
| MPM BioImpact LLC | $108.7M | 7,648,268 |
| BVF INC/IL | $81.7M | 5,750,683 |
| BlackRock, Inc. | $63.2M | 4,449,966 |
| Kynam Capital Management, LP | $44.3M | 3,114,132 |
| STATE STREET CORP | $36.2M | 2,544,115 |
| VANGUARD CAPITAL MANAGEMENT LLC | $35.3M | 2,483,034 |
| Blue Owl Capital Holdings LP | $27.1M | 1,909,764 |
| RTW INVESTMENTS, LP | $24.2M | 1,705,960 |
| VR Adviser, LLC | $19.6M | 1,379,965 |
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Popular Research
Is CGEM a good stock to buy?
13F Pro's AI-powered analysis of Cullinan Therapeutics, Inc. (CGEM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CGEM are available on the CGEM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own CGEM?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CGEM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Cullinan Therapeutics, Inc.'s investment landscape.