An insider at Cogent Biosciences sold 65,000 shares on Dec. 26 for $2.52 million, reducing direct ownership by 37.27% to 109,398 shares. No indirect holdings or derivative transactions were involved in the sale. The transaction was reported in an SEC Form 4 filing. The sale was based on a weighted average purchase price of $38.70 per share, with a post-transaction value of $4.25 million.

The sale by Evan Kearns, Cogent Biosciences’ chief legal officer, follows a surge in the company’s stock price after a public offering in November. The company submitted its first NDA for bezuclastinib in non-advanced systemic mastocytosis, with more filings planned in 2026. Kearns sold 65,000 shares at a weighted average price of $38.70, reducing his direct holdings by about 37%. This was Kearns’s only open-market sale on record and did not involve derivatives or indirect entities.

Cogent Biosciences, a biotech company, focuses on precision therapies for genetically defined diseases with a lead product candidate, CGT9486. The company operates a precision medicine model, developing targeted therapies for rare genetic diseases and cancers. Its primary customers are healthcare providers, oncologists, and institutions treating patients with specific mutations. Cogent aims to create differentiated value in the biotechnology sector through innovative candidates and licensing agreements.

The sale by Kearns reflects insider liquidity following a stock price surge driven by financing and regulatory momentum. Cogent’s long-term value will depend on clinical execution and regulatory follow-through. The company’s strategic focus on rare mutations and licensing partnerships positions it to address unmet medical needs in oncology and rare disease markets. The sale reduced Kearns’s direct ownership by 37.27%, leaving him with 109,398 shares, notably shrinking his direct exposure to Cogent Biosciences equity.

Read more at Yahoo Finance: Cogent Insider Sells $2.5 Million in Stock Amid Staggering 300% Price Surge