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Cullinan Therapeutics Inc. (CGEM) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$14.93 -0.66% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $14.88

Cullinan Therapeutics Inc. (CGEM) carries a Roarable Rating of E (Strong Sell) with 32/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $967.3M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is CGEM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Cullinan Therapeutics Inc. (NASDAQ: CGEM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 32/100 at a spot price of $14.93 (-0.66% 1D, market cap $967.3M). Pillar breakdown: Fundamental Cash Engine 7/20, Institutional 13F & Options Flow 7/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, CGEM ranks #714 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does CGEM compare to ODTX and GLUE in the Health Care sector?
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Within the Health Care sector (Biotechnology: Biological Products (No Diagnostic Substances)), CGEM carries a Roarable E (32/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, ODTX (Odyssey Therapeutics Inc.) holds a D grade (46/100 RQD, P/E N/A, ROIC —, cap $939.1M) and GLUE (Monte Rosa Therapeutics Inc.) posts a E grade (25/100 RQD, P/E N/A, ROIC -35.0%, cap $918.0M). Among the 5-stock peer group, CGEM leads on earnings multiple (N/A) while CGEM leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for CGEM?
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Per CGEM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001789972), Cullinan Therapeutics Inc. generated $676.6M in revenue (+22.7% YoY), -$219.9M in net income, and -$175.8M in free cash flow against $448.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
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INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $14.88 (-0.31%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 7/20 (D-) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (32/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-9.2% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510032
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D-
Cash (7)Whales (7)SEC (10)Macro (5)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-11.7% Base Target
$24 Bull$13 Base$10 Bear
📬 FREE CGEM RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for CGEM)Realized 20D OHLCV Swing Band: ±11.9%
Deterministic 5-Pillar Attribution (32/100 Composite)
🔍 WHY CGEM SCORES 32/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (31% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▲ #2 Bullish Driver: Cash Engine Quality+7/20 pts (22% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
24
Grade E$14.10+5.2% Next Q
Q2 (-2Q)
27
Grade E$14.83+0.1% Next Q
Q3 (-1Q)
29
Grade E$14.84+0.6% Next Q
Current
32
Grade E$14.93-9.2% Hist 90D α
Trajectory: E (24) → E (32)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a CGEM Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While CGEM currently carries a cautious 32/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($17.65) and Max Pain ($15.68) forces dealer call-delta covering toward $24.35.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $CGEM• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “CGEM Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 32%NO 68%Trade / Inspect Odds →
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How CGEM Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)
Revenue$676.6MGross Profit $351.8M (52%)Cost of Sales $324.8MOp Profit $0 (0%)OpEx (R&D/SG&A) $351.8MNet Profit$0 (0%)Tax/Other $0

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $535.0M
FY24
Rev $551.4M
FY25
Rev $676.6M
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$676.6M52%-35.7%-$219.9M-$175.8M-45%
FY 2024$551.4M52%-35.7%-$167.6M-$145.3M-30.7%
FY 2023$535.0M52%-35.7%-$155.1M-$134.3M-35%
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring CGEM)

  • ✓Walkthrough of CGEM's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
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CGEM // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -2.67%📐 HORIZONTAL RANGE
2026-11-03O $15.45H $15.45L $14.93C $14.93VOL 389.4K
RES: $27.49SUP: $12.22SMA50: $17.65SMA200: $15.85
$24.09$20.36$16.63$12.89$9.16RES $27.49SUP $12.22$14.932026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

CGEM Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 CGEM Butterfly Map → + Track CGEM →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. +22.7% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on CGEM today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for CGEM. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CGEM today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (CGEM)

Health Care Rank #714 of 1015 ⚔️ ODTX vs CGEM Full Matrix →

1. Head-to-Head Health Care Peer Comparison (CGEM vs. ODTX, GLUE, MGTX, INBX)

Industry: Biotechnology: Biological Products (No Diagnostic Substances) (156 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Cullinan Therapeutics Inc. (CGEM) ranks #714 by composite RQD confidence (32/100, grade E) and #359 by equity capitalization ($967.3M). Within this direct 5-issuer industry benchmark cohort, CGEM leads on earnings valuation at N/A trailing P/E, while CGEM leads on capital efficiency and profitability with -35.0% ROIC and — gross margin. ODTX currently holds the highest overall quantitative score in the immediate peer group at 46/100 (D) compared with CGEM at 32/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
CGEM ACTIVE
Cullinan Therapeutics Inc.
E 32/100 — — -35.0% -0.66% $967.3M Benchmark Subject
ODTX
Odyssey Therapeutics Inc.
D 46/100 — — — -0.05% $939.1M /odtx-vs-cgem →
GLUE
Monte Rosa Therapeutics Inc.
E 25/100 — — -35.0% -1.21% $918.0M /glue-vs-cgem →
MGTX
MeiraGTx Holdings plc
E 20/100 — — -35.0% -1.79% $911.4M /mgtx-vs-cgem →
INBX
Inhibrx Biosciences Inc.
E 18/100 — — -35.0% +0.53% $1.06B /inbx-vs-cgem →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001789972 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Cullinan Therapeutics Inc. (CGEM) reported GAAP revenue of $676.6M (+22.7% vs. FY2024 revenue of $551.4M , and +26.5% cumulative change since FY2023) , GAAP net income of -$219.9M, operating cash flow of -$175.8M, and free cash flow of -$175.8M (-21.0% YoY). On the balance sheet, CGEM closed FY2025 with $448.4M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $676.6M -$219.9M -$175.8M -$175.8M $448.4M —
FY2024 (FY) 2024-12-31 $551.4M -$167.6M -$145.3M -$145.3M $621.8M —
FY2023 (FY) 2023-12-31 $535.0M -$155.1M -$134.3M -$134.3M — —

3. CGEM Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is CGEM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Cullinan Therapeutics Inc. (NASDAQ: CGEM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 32/100 at a spot price of $14.93 (-0.66% 1D, market cap $967.3M). Pillar breakdown: Fundamental Cash Engine 7/20, Institutional 13F & Options Flow 7/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, CGEM ranks #714 in composite RQD confidence.

How does CGEM compare to ODTX and GLUE in the Health Care sector?

Within the Health Care sector (Biotechnology: Biological Products (No Diagnostic Substances)), CGEM carries a Roarable E (32/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, ODTX (Odyssey Therapeutics Inc.) holds a D grade (46/100 RQD, P/E N/A, ROIC —, cap $939.1M) and GLUE (Monte Rosa Therapeutics Inc.) posts a E grade (25/100 RQD, P/E N/A, ROIC -35.0%, cap $918.0M). Among the 5-stock peer group, CGEM leads on earnings multiple (N/A) while CGEM leads on capital efficiency (-35.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for CGEM?

Per CGEM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001789972), Cullinan Therapeutics Inc. generated $676.6M in revenue (+22.7% YoY), -$219.9M in net income, and -$175.8M in free cash flow against $448.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is CGEM trading relative to its 50-day, 200-day, and 52-week technical levels?

CGEM last traded at $14.93 (-0.66% on volume of 730,788 shares), positioning the stock -15.41% below its 50-day simple moving average ($17.65) and -5.80% below its 200-day simple moving average ($15.85). Across its 52-week range of $6.73 to $23.19, CGEM sits at the 49.8% percentile with a 14-day RSI of 45.7 (NEUTRAL RANGE) and an implied next-earnings move of ±11.9% ($13.15 to $16.71).

Direct Sub-Reports: CGEM RQD Cockpit CGEM 12M Forecast CGEM Earnings & Move CGEM Dividends & DRIP CGEM Insiders & 13F CGEM Whale Options CGEM Profit Sankey CGEM News & Why
ROARABLE RATING BRIEF • RQD 32/100 (E) ✓ SEC XBRL & RQD VERIFIED

CGEM — Cullinan Therapeutics Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Cullinan Therapeutics Inc. (CGEM) earns a live Roarable RQD composite score of 32/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $14.93 (-0.66% 1D, market capitalization $967.3M).

  • Fundamental Cash Engine (7/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of —, operating margin of —, and free cash flow yield of -17.68%.
  • Whale 13F & Options Flow (7/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (5/20) + Forensic Balance Sheet (10/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 2/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Cullinan Therapeutics Inc. Is a NASDAQ-listed issuer in the Health Care sector, within the Biotechnology: Biological Products (No Diagnostic Substances) industry,.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Cullinan Therapeutics Inc. (CGEM) reported $676.6M in annual revenue (up from $551.4M in FY2024, +22.7% YoY) and -$219.9M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($535.0M revenue, -$155.1M net income) through FY2025, CGEM scaled operating cash flow to -$175.8M and free cash flow to -$175.8M, backed by $448.4M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 32/100): Established market leader in Health Care with deep daily trading liquidity. Free cash flow yield of -17.68% and institutional whale pillar of 7/20. With Fundamental Cash Engine at 7/20 and Institutional Whale Flow at 7/20, sustained execution supports upside toward the upper end of the $6.73 – $23.19 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against — operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The source data therefore does not establish upstream or downstream dependencies, sector correlations, or second-order bottlenecks. The only sector context is the classification itself: Health Care, Biotechnology: Biological Products.

  • Key Question #1: Can CGEM sustain or expand its — operating margin and -35.0% ROIC against Biotechnology: Biological Products (No Diagnostic Substances) peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $676.6M and free cash flow of -$175.8M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is CGEM's equity valuation to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

CGEM Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Cullinan Therapeutics Inc. (CGEM) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to CGEM Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

CGEM Bull vs. Bear Conversation Board — What's Your Call at $14.93?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON CGEM 🐻 33% BEARISH CONVICTION
1. Pick Your Side on CGEM:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MI MidwestValue RQD DEBATE OPENER • Fundamental Long-Only 🐂 BULLISH 🎯 Target: $19.09 (+27.0%)
📌 Pinned Debate

A cited BTIG Buy rating with a $41 price target sits against a $15.45 share price, per the news wire.

A cited BTIG Buy rating with a $41 price target sits against a $15.45 share price, per the news wire.. When you look under the hood at CGEM, Fundamental Cash Engine is 7/20 with 0.0% gross margins and -35.0% ROIC. Bears are staring in the rearview mirror while institutional 13F flow (7/20) has been quietly accumulating below $23.19. My 12M target is $19.09.

SectorRotator 🐂 BULL

@FadeTheHype Fair point on current EV/EBITDA multiples, but you're ignoring the forward operating leverage in Biotechnology: Biological Products (No Diagnostic Substances). If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

FA FadeTheHype RQD DEBATE OPENER • Contrarian Tape Reader 🐻 BEARISH 🎯 Target: $12.32 (-18.0%)
Spot @ $15.03

Free cash flow of -$175.8M in FY 2025 against $88.3M in cash, with ROIC of -35%, per the SEC financials and market data.

Free cash flow of -$175.8M in FY 2025 against $88.3M in cash, with ROIC of -35%, per the SEC financials and market data.. Look at the math on CGEM: paying current EV/EBITDA multiples for -35.0% ROIC and 0.0% operating margins leaves zero margin of safety if Biotechnology: Biological Products (No Diagnostic Substances) demand softens. I'd wait for a retest of $13.23 before getting long.

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