Cogent Biosciences
Develops bezuclastinib and other mutation-targeted therapies for mast-cell disease and cancer.
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Profile
Develops mutation-targeted small-molecule therapies, led by bezuclastinib for systemic mastocytosis and gastrointestinal stromal tumors. Three FDA applications have been submitted, and a newly built U.S. field organization is preparing for potential launches while earlier FGFR2/3, ErbB2, PI3Kα, KRAS, and JAK2 programs expand the pipeline.
Develops precision small-molecule therapies for genetically defined diseases, led by bezuclastinib, a selective KIT inhibitor submitted to the FDA for non-advanced and advanced systemic mastocytosis and, with sunitinib, gastrointestinal stromal tumors. Three applications have been submitted, two with priority review, and a U.S. commercial and medical field organization is in place for potential launches.
Earlier programs include clinical-stage FGFR2/3 inhibitor CGT4859, CNS-penetrant mutant ErbB2 inhibitor CGT4255, and PI3Kα inhibitor CGT6297, plus preclinical KRAS and JAK2 programs. Operations are managed as one segment, with research in Boulder and headquarters in Waltham. The lead asset is licensed from Plexxikon, and the business depends on regulatory decisions and third-party suppliers and manufacturers.
Company facts
Key statistics
Year to date −0.2% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 17, 2026 | Piper Sandler | Reiterate | Overweight | $52 | $55 |
| Aug 12, 2026 | Guggenheim | Reiterate | Buy | $20 | $52 |
| Jun 1, 2026 | Stifel Nicolaus | Target | $40 | $45 | |
| May 6, 2026 | H.C. Wainwright | Target | $52 | $55 | |
| Feb 19, 2026 | Robert W. Baird | Target | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.55 | −$0.52 | +6.3% | $1.0K | — | — | −2.03% |
| May 5, 2026Q1 FY26 | −$0.53 | −$0.53 | 0.0% | $500 | — | — | −3.00% |
| Feb 17, 2026Q4 FY25 | −$0.51 | −$0.55 | −7.8% | $1.7M | — | — | +1.94% |
| Nov 7, 2025Q3 FY25 | −$0.54 | −$0.50 | +7.4% | — | — | — | +119.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | −$1.2M | $0 | −$1.2M | −$1.2M | $0 | |
| Operating income | −$74.9M | −$75.6M | −$83.4M | −$99.5M | −$103.6M | −$102.6M | |
| Net income | −$72.0M | −$73.5M | −$80.9M | −$102.5M | −$97.4M | −$96.4M | |
| Diluted EPS | −$0.63 | −$0.65 | −$0.58 | −$0.64 | −$0.57 | −$0.52 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $792.3M · Total debt $244.3M · Total assets $834.5M · Shareholders' equity $532.4M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 170.87M · Float 148.52M · 86.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 25.68M | 15.03% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 17.35M | 10.16% | 13F | Aug 7, 2026 |
| Deerfield Mgmt, L.P. | 9.04M | 5.29% | 13G | May 14, 2026 |
| Vanguard Capital Management | 8.69M | 5.08% | 13G | Jul 31, 2026 |
| Vanguard Portfolio Management LLC | 8.07M | 4.72% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 31, 2026 | Fairmount Funds Management LLC | director | −7,000,000 | $34.66 |
| Jan 22, 2026 | Fairmount Funds Management LLC | director | −3,500,000 | $36.40 |
| Dec 26, 2025 | John Edward Robinson | officer: Chief Scientific Officer | −90,000 | $38.74 |
| Dec 26, 2025 | Jessica Sachs | officer: Chief Medical Officer | −82,642 | $38.70 |
| Dec 26, 2025 | John L. Green | officer: Chief Financial Officer | −77,000 | $38.68 |
Peers
- Sanofi (ADR)
Approved SM therapy and KIT pipeline pressure
- Novartis (ADR)
Established SM and GIST standards of care
- Pfizer
Second-line GIST benchmark through Sutent
- GSK (ADR)
Emerging second-line GIST pipeline pressure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cogent Biosciences | $34.59 | −0.24% | $5.92B | — | — | — | — |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Median | 30.1 | 10.0 | 2.4 | +2.7% |