Fairmount Funds Management LLC sold 3,500,000 shares of Cogent Biosciences for approximately $127.4 million on Jan. 22, 2026, reducing their indirect ownership to 5,503,418 shares. Cogent’s stock surged by over 300% in 2025. The company specializes in targeted therapies for rare diseases. Fairmount Funds still holds about 67,414 units of Series A Convertible Preferred Stock, equivalent to 16.85 million common shares if converted. The fund may need to sell common shares to avoid exceeding the 9.9% ownership limit. Analysts recommend 10 stocks for investment, with Stock Advisor’s total average return at 942% compared to the S&P 500’s 196%.

Read more at Nasdaq: Large Biotech Fund Sells Shares of Cogent Biosciences for Over $120M