Cullinan Oncology LLC (CGEM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Cullinan Oncology LLC $5.39, price $16.87, upside -68.1%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $5.75 – $29.68 · fair‑value band $3.56 – $6.74 · the $16.87 price screens above the $5.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Cullinan Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for autoimmune diseases and cancer in the United States.
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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.
Stock analysis
Cullinan Oncology LLC (CGEM) currently trades at $16.87, while our model-based Fair Value estimate is $5.39, implying the stock looks roughly 213.0% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.
Scenario range: $3.56 (bear) to $6.74 (bull), the price of $16.87 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 38/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
Cullinan Oncology LLC reported revenue of $0 in FY2025 versus $18.9M in FY2021. Reported net income was −$220M in FY2025.
Key figures
Market cap $1.3B · EPS (TTM) $−3.11 · Return on equity −50.3% · Return on assets (EBIT) −23.0% · Free cash flow −$176M · Net cash $85.6M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 26% below its 52-week high and 193% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −68%, CGEM screens richer than that median.
Fair Value models
Bear $3.56Fair Value $5.39Bull $6.74
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 651 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score40 · Below median
Fair Value upside−68% · Below median
Profitability
Return on assets−31% · Bottom 25%
Operating margin (TTM)0% · Above median
Growth and dividend
Revenue growth0% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B3.21× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)100· sector 97
DIVIDEND (yield)0· sector 23
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Cullinan Oncology LLC (CGEM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $5.39 versus a price of $16.87, about −68% upside (overvalued).
What is the fair value of CGEM?
Our model-based fair value for Cullinan Oncology LLC is $5.39 (as of Sep 24, 2026), built from audited fundamentals. The current price: $16.87.
What is the quality score of CGEM?
Cullinan Oncology LLC has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cullinan Oncology LLC (CGEM)?
Our model-based price target is the fair value of $5.39 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario $3.56, optimistic scenario $6.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Cullinan Oncology LLC stock forecast for 2026?
Our models put fair value at $5.39, about −68% upside versus a price of $16.87 (overvalued). Cautious scenario $3.56, optimistic scenario $6.74. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Cullinan Oncology LLC (CGEM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cullinan Oncology LLC it is $5.39 per share (as of Sep 24, 2026), against a price of $16.87. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Cullinan Oncology LLC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CGEM trades above its calculated fair value: price $16.87, fair value $5.39, a gap of about −68% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CGEM?
No. The price is what the market pays today ($16.87); the fair value is what the company's own numbers justify ($5.39). For Cullinan Oncology LLC the two are $11.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cullinan Oncology LLC worth?
The market values Cullinan Oncology LLC at about $1.3B (market capitalisation, as of Sep 24, 2026). Per share that is $16.87; our models calculate a fair value of $5.39 per share.
What do the bullish and bearish scenarios say about CGEM?
Our models span a range for Cullinan Oncology LLC: cautious scenario $3.56, base $5.39, optimistic $6.74 per share (as of Sep 24, 2026, price $16.87). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cullinan Oncology LLC (CGEM)?
Balance-sheet figures for Cullinan Oncology LLC (as of Sep 24, 2026): return on equity −50.3%, debt of 0.00 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is CGEM from its 52-week high?
Cullinan Oncology LLC trades at $16.87, about 26% below its 52-week high of $22.95 and 193% above the low of $5.75 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $5.39 is for.
Which stocks are comparable to Cullinan Oncology LLC?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cullinan Oncology LLC stock attractive at the current price?
The data as of Sep 24, 2026: price $16.87, calculated fair value $5.39 (−68%), Quality Score 38/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CGEM calculated?
We run Cullinan Oncology LLC through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $5.39, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Cullinan Oncology LLC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cullinan Oncology LLC (CGEM)?
The closing price on Sep 23, 2026 was $16.87. Our model-based fair value is $5.39, about −68% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cullinan Oncology LLC right now?
The price sits above even our optimistic bull case ($6.74). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($3.56 to $6.74) leaves room in how you read the outcome.
Key figures of Cullinan Oncology LLC
How large is the market capitalisation of Cullinan Oncology LLC (CGEM)?
The market capitalisation of Cullinan Oncology LLC is $1.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Cullinan Oncology LLC (CGEM)?
Earnings per share at Cullinan Oncology LLC are $−3.11. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Cullinan Oncology LLC (CGEM)?
The return on equity (ROE) of Cullinan Oncology LLC is −50.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cullinan Oncology LLC (CGEM)?
On an EBIT basis the return on assets of Cullinan Oncology LLC is −23.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Cullinan Oncology LLC (CGEM) generate?
The free cash flow of Cullinan Oncology LLC is −$176M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Cullinan Oncology LLC (CGEM) hold?
Cullinan Oncology LLC holds more cash than debt, $85.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 24, 2026