On February 17, 2026, Rock Springs Capital Management disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 159,278 shares of Cogent Biosciences (NASDAQ:COGT), an estimated $4.48 million trade based on quarterly average pricing. What happened According to its SEC filing dated February 17, 2026, Rock Springs Capital Management LP reduced its stake in Cogent Biosciences by 159,278 shares during the fourth quarter. The estimated transaction value was $4.48 million, calculated from ...

Company Overview - Cogent Biosciences specializes in precision therapies for genetically defined diseases, focusing on targeted kinase inhibition and rare mutations [6] - The company's lead product candidate is CGT9486, a selective tyrosine kinase inhibitor targeting KIT D816V and other KIT exon 17 mutations, aimed at treating systemic mastocytosis and advanced gastrointestinal stromal tumors [7] - Cogent operates a precision medicine model with revenue potential linked to successful drug development and commercialization, including licensing agreements [7][8] Transaction Summary - Evan Kearns, the chief legal officer, sold 65,000 shares for a transaction value of $2.52 million, reducing his direct ownership by 37.27% [1][2][10] - Post-transaction, Kearns holds 109,398 shares valued at approximately $4.25 million based on the market close price of $38.70 [2][4][10] - This sale is Kearns's only open-market transaction on record and did not involve any derivatives or indirect interests [10] Market Context - As of December 26, the stock price was $38.70, reflecting a one-year price change of 345.38% [4][9] - The stock's surge followed a public offering announcement in November, which strengthened the balance sheet and reset expectations around clinical milestones [9][11] - The company submitted its first NDA for bezuclastinib in non-advanced systemic mastocytosis, with additional filings planned for 2026 [9]