High-Flying Biotech Stock Up 360% Faces $48 Million Trim but Remains This Fund's Largest Holding

2 hours ago 1

Jonathan Ponciano, The Motley Fool

Sat, March 21, 2026 astatine 5:43 PM CDT 4 min read

Kynam Capital Management disclosed successful a February 17, 2026, SEC filing that it sold 1,720,949 shares of Cogent Biosciences (NASDAQ:COGT), an estimated $48.38 cardinal commercialized based connected quarterly mean pricing.

According to a SEC filing dated February 17, 2026, Kynam Capital Management reduced its involvement successful Cogent Biosciences by 1,720,949 shares during the 4th quarter. The estimated transaction worth was $48.38 million, calculated utilizing the mean closing terms implicit the quarter. The quarter-end valuation of this presumption changed by $105.74 million, a fig that incorporates some stock income and banal terms appreciation.

Kynam Capital Management, LP’s merchantability enactment near Cogent Biosciences astatine 13.99% of reported AUM aft the trade.
Top holdings aft the filing:
- NASDAQ:COGT: $218.99 cardinal (14.3% of AUM)
- NASDAQ:VERA: $173.85 cardinal (11.3% of AUM)
- NASDAQ:SNDX: $169.15 cardinal (11.0% of AUM)
- NASDAQ:CLDX: $161.42 cardinal (10.5% of AUM)
- NASDAQ:PCVX: $134.84 cardinal (8.8% of AUM)
As of Friday, shares of Cogent Biosciences were priced astatine $33.38, up a staggering 360% implicit the past year, compared to a 15% summation for the S&P 500 successful the aforesaid period.

Metric

Value

Price (as of Friday)	$33.38
Market Capitalization	$5.4 billion
Net Income (TTM)	($328.94 million)

Cogent Biosciences develops precision therapies targeting genetically defined diseases, with a pb merchandise campaigner (CGT9486) focused connected inhibiting the KIT D816V mutation successful systemic mastocytosis and precocious gastrointestinal stromal tumors.
The institution operates a research-driven biotechnology concern model, generating worth done the objective improvement and imaginable commercialization of proprietary therapies, supported by licensing agreements specified arsenic that with Plexxikon Inc. for bezuclastinib.
It targets patients with rare, genetically defined cancers and systemic mastocytosis, chiefly serving healthcare providers, probe institutions, and specialty attraction centers.

Cogent Biosciences, Inc. is simply a clinical-stage biotechnology institution specializing successful the improvement of targeted therapies for genetically defined diseases. The institution leverages precision medicine to code unmet aesculapian needs successful uncommon crab populations, with a strategical absorption connected selective kinase inhibition. Its attack positions it astatine the forefront of innovation successful the biotechnology sector, aiming to present differentiated solutions for patients with constricted attraction options.

Cogent has intelligibly go 1 of biotech’s hottest stocks. Even aft this $48 cardinal trim, it inactive sits astatine astir 14% of assets, making it the fund’s azygous largest position. That tells you everything astir however condemnation and hazard are being balanced here. The trim reins successful vulnerability without disrupting a halfway thesis that is inactive precise overmuch intact.

The company’s bezuclastinib received FDA acceptance earlier this period based connected affirmative objective results from the SUMMIT pivotal trial, successful which the merchandise showed a wide objective payment crossed each grounds domains successful patients with non-advanced systemic mastocytosis. The FDA assigned a people enactment day of December 30. Last month, the steadfast reported ending the twelvemonth with $900.8 cardinal successful currency and currency equivalents, capable to money operations into 2028. All of that to accidental this merchantability looks astir surely tied to subject arsenic opposed to a nonaccomplishment of conviction, and respective catalysts volition yet find however this rally shapes out.

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