First Turn Management Acquires New Position in Cogent Biosciences
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
0mins
Should l Buy COGT?
Source: Fool
- New Investment Disclosure: On February 13, 2026, First Turn Management disclosed the acquisition of 824,283 shares of Cogent Biosciences for $29.28 million, indicating strong confidence in the company's future prospects.
- Significant Ownership: This new position represents 3.35% of First Turn Management's reportable U.S. equity assets as of December 31, 2025, highlighting its strategic importance within the portfolio.
- Outstanding Market Performance: As of February 13, 2026, Cogent's shares were priced at $36.53, reflecting a remarkable 346.6% increase over the past year, significantly outperforming the S&P 500 by 334.8 percentage points, showcasing its robust market performance.
- Strong Financial Position: Cogent enters 2026 with approximately $901 million in cash and marketable securities, providing a runway into 2028, although it reported a net loss of $328.9 million for 2025, which is typical for late-stage biotech firms, underscoring execution risks.
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Analyst Views on COGT
Wall Street analysts forecast COGT stock price to rise
12 Analyst Rating
10 Buy
2 Hold
0 Sell
Strong Buy
Current: 34.100
Low
34.00
Averages
50.36
High
67.00
Current: 34.100
Low
34.00
Averages
50.36
High
67.00
About COGT
Cogent Biosciences, Inc. is a clinical-stage biotechnology company. It is focused on developing precision therapies for genetically defined diseases. Its approach is to design rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Its advanced program is bezuclastinib, also known as CGT9486, a highly selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis (SM), a serious and rare disease caused by unchecked proliferation of mast cells. The Company has on-going Phase I studies of its CNS-penetrant, selective mutant ErbB2 inhibitor and its potential best-in-class, wild-type-sparing, PI3Ka inhibitor. In addition, the Company’s research team is developing a portfolio of novel targeted therapies to help patients fighting serious, genetically driven diseases targeting mutations in KRAS and JAK2.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cogent Biosciences Presents Pivotal Data at EHA Congress
- APEX Trial Oral Presentation: Cogent Biosciences will present pivotal results from the APEX trial on June 13, 2026, at the EHA Congress, with Dr. Daniel DeAngelo from Harvard Medical School discussing the efficacy and safety of bezuclastinib in patients with advanced systemic mastocytosis, which is expected to attract industry attention and drive further research.
- Poster Presentation of New Data: On the same day, Cogent will also showcase a poster detailing the effects of bezuclastinib on the pathobiology of advanced systemic mastocytosis, providing critical data to support its clinical application and further solidifying the company's leadership in this field.
- Progress on JAK2 V617F Program: Cogent's JAK2 V617F program will be highlighted in a poster presentation on June 12, 2026, introducing preclinical characteristics of CGT1145, a novel selective inhibitor, demonstrating the company's ongoing commitment to innovative drug development for genetically driven diseases.
- Strategic Positioning and Market Impact: Focused on developing precision therapies for genetically defined diseases, Cogent's bezuclastinib, as its most advanced clinical program, aims to effectively inhibit the KIT D816V mutation, which is expected to create significant market opportunities and bolster investor confidence.
See More
Major Wall Street Rating Updates
- Chipotle Upgrade: Argus upgraded Chipotle Mexican Grill from Hold to Buy, indicating a return to growth, which reflects market optimism about the company's future performance.
- Full Truck Alliance Initiation: Bank of America initiated coverage on Full Truck Alliance (FTA) with a Buy rating and a price target of $11.3, implying a 33% total return potential, showcasing confidence in its business model.
- Alto Neuroscience Promising Outlook: Bank of America initiated coverage of Alto Neuroscience (ANRO) with a Buy rating and a $35 price target, emphasizing its innovative potential in treating psychiatric disorders, which may attract more investor interest.
- Amazon Supply Chain Expansion: Bank of America reiterated its Buy rating on Amazon, highlighting the significant market potential of Amazon Supply Chain Services, which offers comprehensive logistics solutions for all businesses, further solidifying its market leadership.
See More
Cogent Biosciences Reports Q1 Net Loss of $97.4 Million
- Financial Performance: Cogent Biosciences reported a net loss of $97.4 million for Q1 2026, reflecting high expenditures in R&D and marketing that could impact future investor confidence.
- Cash Position: As of March 31, 2026, the company had $866.4 million in cash, cash equivalents, and marketable securities, including $45.7 million in net proceeds from recent stock sales, indicating proactive financing efforts.
- Funding Outlook: The company expects its existing cash and securities to be sufficient to fund operating expenses and capital expenditures into 2028, including the commercialization of bezuclastinib in SM and GIST, demonstrating confidence in future product launches.
- Market Potential: Despite the current financial losses, Cogent Biosciences is facing three approvals for its lead drug, and the market remains optimistic about its blockbuster potential, which may attract long-term investor interest.
See More
Cogent Biosciences Completes NDA Submission for Bezuclastinib
- NDA Submission: Cogent Biosciences has completed its New Drug Application (NDA) submission for Bezuclastinib targeting patients with Gastrointestinal Stromal Tumors (GIST) previously treated with Imatinib, marking a significant advancement in oncology treatment.
- Clinical Trial Results: The NDA submission is based on positive outcomes from the PEAK trial, which demonstrated a 50% reduction in the risk of disease progression or death on the primary endpoint of progression-free survival (PFS) when Bezuclastinib was combined with Sunitinib compared to the current standard of care, indicating substantial clinical benefits.
- Strong Financial Position: As of December 30, 2025, Cogent reported cash, cash equivalents, and marketable securities totaling $900.8 million, which is expected to fund operations through 2028, showcasing robust financial backing for its R&D efforts.
- Upcoming Milestones: Cogent plans to present full results from the PEAK trial at a major medical meeting in the first half of 2026 and aims to submit another NDA for Bezuclastinib in Advanced Systemic Mastocytosis (AdvSM) during the same period, further advancing its product pipeline.
See More
Cogent Biosciences Submits New Drug Application
- Stock Decline: Cogent Biosciences (COGT) shares are down approximately 6% in Wednesday morning trading, currently priced at $35.86, reflecting a $2.63 drop from the previous close of $38.50, indicating market caution regarding the new drug application.
- New Drug Application Submission: The company submitted a New Drug Application for bezuclastinib targeting patients with Gastrointestinal Stromal Tumors, based on positive findings from the PEAK trial, which suggest the drug's potential efficacy.
- FDA Review Process: This NDA was submitted under the FDA's Real-Time Oncology Review program, indicating the company's intent to expedite the approval process to bring the new drug to market sooner to meet patient needs.
- Historical Trading Range: Over the past year, Cogent Biosciences' stock has fluctuated between $3.72 and $43.73, and the current decline in stock price may affect investor confidence in the company's future prospects.
See More
RTW Investments Increases Stake in Cogent Biosciences Significantly
- Stake Increase: RTW Investments disclosed a significant purchase of 4,124,755 shares in Cogent Biosciences in its SEC filing dated February 17, 2026, with an estimated transaction value of $115.95 million, indicating strong confidence in the company's future.
- Market Value Growth: Following this purchase, Cogent's quarter-end position value rose to $219.88 million, reflecting optimistic market expectations regarding its potential in the precision medicine sector, particularly for genetically defined diseases.
- Portfolio Dynamics: RTW's stake in Cogent now represents 2.7% of its 13F reportable AUM, while its top holdings like MDGL and INSM also show robust market performance, highlighting the diversity of its investment strategy.
- Clinical Success Outlook: Cogent Biosciences' stock price surged 360% over the past year, and with its lead candidate's FDA application accepted, a crucial decision is expected by late 2026, which could further propel the stock's upward trajectory.
See More
Cogent Biosciences Presents Pivotal Data at EHA Congress
- APEX Trial Oral Presentation: Cogent Biosciences will present pivotal results from the APEX trial on June 13, 2026, at the EHA Congress, with Dr. Daniel DeAngelo from Harvard Medical School discussing the efficacy and safety of bezuclastinib in patients with advanced systemic mastocytosis, which is expected to attract industry attention and drive further research.
- Poster Presentation of New Data: On the same day, Cogent will also showcase a poster detailing the effects of bezuclastinib on the pathobiology of advanced systemic mastocytosis, providing critical data to support its clinical application and further solidifying the company's leadership in this field.
- Progress on JAK2 V617F Program: Cogent's JAK2 V617F program will be highlighted in a poster presentation on June 12, 2026, introducing preclinical characteristics of CGT1145, a novel selective inhibitor, demonstrating the company's ongoing commitment to innovative drug development for genetically driven diseases.
- Strategic Positioning and Market Impact: Focused on developing precision therapies for genetically defined diseases, Cogent's bezuclastinib, as its most advanced clinical program, aims to effectively inhibit the KIT D816V mutation, which is expected to create significant market opportunities and bolster investor confidence.
See More
Major Wall Street Rating Updates
- Chipotle Upgrade: Argus upgraded Chipotle Mexican Grill from Hold to Buy, indicating a return to growth, which reflects market optimism about the company's future performance.
- Full Truck Alliance Initiation: Bank of America initiated coverage on Full Truck Alliance (FTA) with a Buy rating and a price target of $11.3, implying a 33% total return potential, showcasing confidence in its business model.
- Alto Neuroscience Promising Outlook: Bank of America initiated coverage of Alto Neuroscience (ANRO) with a Buy rating and a $35 price target, emphasizing its innovative potential in treating psychiatric disorders, which may attract more investor interest.
- Amazon Supply Chain Expansion: Bank of America reiterated its Buy rating on Amazon, highlighting the significant market potential of Amazon Supply Chain Services, which offers comprehensive logistics solutions for all businesses, further solidifying its market leadership.
See More
Cogent Biosciences Reports Q1 Net Loss of $97.4 Million
- Financial Performance: Cogent Biosciences reported a net loss of $97.4 million for Q1 2026, reflecting high expenditures in R&D and marketing that could impact future investor confidence.
- Cash Position: As of March 31, 2026, the company had $866.4 million in cash, cash equivalents, and marketable securities, including $45.7 million in net proceeds from recent stock sales, indicating proactive financing efforts.
- Funding Outlook: The company expects its existing cash and securities to be sufficient to fund operating expenses and capital expenditures into 2028, including the commercialization of bezuclastinib in SM and GIST, demonstrating confidence in future product launches.
- Market Potential: Despite the current financial losses, Cogent Biosciences is facing three approvals for its lead drug, and the market remains optimistic about its blockbuster potential, which may attract long-term investor interest.
See More
Cogent Biosciences Completes NDA Submission for Bezuclastinib
- NDA Submission: Cogent Biosciences has completed its New Drug Application (NDA) submission for Bezuclastinib targeting patients with Gastrointestinal Stromal Tumors (GIST) previously treated with Imatinib, marking a significant advancement in oncology treatment.
- Clinical Trial Results: The NDA submission is based on positive outcomes from the PEAK trial, which demonstrated a 50% reduction in the risk of disease progression or death on the primary endpoint of progression-free survival (PFS) when Bezuclastinib was combined with Sunitinib compared to the current standard of care, indicating substantial clinical benefits.
- Strong Financial Position: As of December 30, 2025, Cogent reported cash, cash equivalents, and marketable securities totaling $900.8 million, which is expected to fund operations through 2028, showcasing robust financial backing for its R&D efforts.
- Upcoming Milestones: Cogent plans to present full results from the PEAK trial at a major medical meeting in the first half of 2026 and aims to submit another NDA for Bezuclastinib in Advanced Systemic Mastocytosis (AdvSM) during the same period, further advancing its product pipeline.
See More
Cogent Biosciences Submits New Drug Application
- Stock Decline: Cogent Biosciences (COGT) shares are down approximately 6% in Wednesday morning trading, currently priced at $35.86, reflecting a $2.63 drop from the previous close of $38.50, indicating market caution regarding the new drug application.
- New Drug Application Submission: The company submitted a New Drug Application for bezuclastinib targeting patients with Gastrointestinal Stromal Tumors, based on positive findings from the PEAK trial, which suggest the drug's potential efficacy.
- FDA Review Process: This NDA was submitted under the FDA's Real-Time Oncology Review program, indicating the company's intent to expedite the approval process to bring the new drug to market sooner to meet patient needs.
- Historical Trading Range: Over the past year, Cogent Biosciences' stock has fluctuated between $3.72 and $43.73, and the current decline in stock price may affect investor confidence in the company's future prospects.
See More
RTW Investments Increases Stake in Cogent Biosciences Significantly
- Stake Increase: RTW Investments disclosed a significant purchase of 4,124,755 shares in Cogent Biosciences in its SEC filing dated February 17, 2026, with an estimated transaction value of $115.95 million, indicating strong confidence in the company's future.
- Market Value Growth: Following this purchase, Cogent's quarter-end position value rose to $219.88 million, reflecting optimistic market expectations regarding its potential in the precision medicine sector, particularly for genetically defined diseases.
- Portfolio Dynamics: RTW's stake in Cogent now represents 2.7% of its 13F reportable AUM, while its top holdings like MDGL and INSM also show robust market performance, highlighting the diversity of its investment strategy.
- Clinical Success Outlook: Cogent Biosciences' stock price surged 360% over the past year, and with its lead candidate's FDA application accepted, a crucial decision is expected by late 2026, which could further propel the stock's upward trajectory.
See More
