2 Biotech and 2 Tech Stocks Insiders Are Scooping Up Now
While insider buying has been slow lately, there have been some notable, large purchases at a couple of biotech companies, and e-commerce company.
Headquartered in Waltham, MA Fiscal year ends December NASDAQ: COGT cogentbio.com
Cogent Biosciences is a clinical-stage biotechnology company developing precision therapies for genetically defined diseases. It has no revenue to date.
Its most advanced program is bezuclastinib, a selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation and other KIT exon 17 mutations. KIT D816V drives Systemic Mastocytosis, a serious disease caused by unchecked mast cell proliferation. Exon 17 mutations also occur in advanced Gastrointestinal Stromal Tumors (GIST), a cancer strongly dependent on oncogenic KIT signaling.
Bezuclastinib is under FDA review in three indications:
- **GIST:** PDUFA date of November 30, 2026.
- **NonAdvanced Systemic Mastocytosis:** PDUFA target action date of December 30, 2026.
- **Advanced Systemic Mastocytosis:** PDUFA target action date of June 29, 2027.
The company has built a commercial team ahead of the potential launch. Its research team is also developing novel targeted therapies against mutations in ErbB2, PI3Kα, KRAS and JAK2. These include CGT4255, a CNS-penetrant mutant ErbB2 inhibitor in dose escalation; CGT1815, a pan-KRAS(ON) inhibitor; and CGT1145, a JAK2 V617F inhibitor. Updated
While insider buying has been slow lately, there have been some notable, large purchases at a couple of biotech companies, and e-commerce company.
Cogent Biosciences is a clinical-stage biotechnology company developing precision therapies for genetically defined diseases. It has no revenue to date.
The Wall Street consensus 12-month price target for COGT is $55.82.