Cogent Biosciences chief commercial officer buys $332,412 in stock

The purchase was executed in multiple transactions at prices ranging from $7.53 to $7.60 per share. Additionally, Pinnow's holdings include 1,398 shares acquired under the company's 2018 Employee Stock Purchase Plan as of December 31, 2024. The company maintains a strong balance sheet with more cash than debt, though financial metrics indicate rapid cash utilization, according to recent data. The company maintains a strong balance sheet with more cash than debt, though financial metrics indicate rapid cash utilization, according to recent data.

The purchase was executed in multiple transactions at prices ranging from $7.53 to $7.60 per share. Additionally, Pinnow's holdings include 1,398 shares acquired under the company's 2018 Employee Stock Purchase Plan as of December 31, 2024.

In other recent news, Cogent Biosciences has been the subject of various financial analyst reviews and adjustments. H.C. Wainwright has maintained a Buy rating for Cogent shares, despite reducing the target price from $17.00 to $14.00 following GlaxoSmithKline (NYSE:GSK)'s acquisition of IDRx, Inc. Additionally, Needham revised its stock price target for Cogent from $16.00 to $15.00, maintaining a Buy rating. Piper Sandler and Citi have maintained an Overweight and Buy rating respectively, with price targets of $23.00 and $15.00.

Cogent has reported encouraging trial results for its drug bezuclastinib, aimed at treating systemic mastocytosis. The company has also set key 2025 milestones for drug trials, including findings from the SUMMIT trial for Non-Advanced Systemic Mastocytosis (NonAdvSM) in July 2025, and from the APEX trial for Advanced Systemic Mastocytosis (AdvSM) in the second half of the year. Results from the PEAK Phase 3 trial for second-line Gastrointestinal Stromal Tumors (GIST) patients are expected by the end of 2025.

Furthermore, Cogent has introduced two new inhibitors, CGT6737 and CGT6297, to its developmental pipeline. These inhibitors have shown potential in preclinical models for significant tumor growth inhibition and improved safety profiles. IND-enabling studies for CGT6297 are planned to commence in 2025. These are recent developments in the company's endeavors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.