Cogent Biosciences Inc. Common Stock (COGT)

FairStock Score: 15/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I begin with what is known. Cogent Biosciences is a clinical-stage biotech with 258 employees, no reported revenue, and a lead candidate in Phase 3. A Graham-style bargain needs an earnings record and margin of safety. The filings show net income of -$192.4 million in fiscal year 2023, the year ended 2023-12-31; -$255.9 million in fiscal year 2024, the year ended 2024-12-31; and -$328.9 million in fiscal year 2025, the year ended 2025-12-31. Diluted EPS in fiscal year 2025 was -$2.16. The quarterly losses continued: in fiscal Q1 2026, the quarter ended 2026-03-31, net income was -$97.4 million, and in fiscal Q2 2026, the quarter ended 2026-06-30, it was -$96.4 million. Trailing free cash flow is -$309.2 million, an FCF yield of -6.3% on a $4.9 billion market cap. FairStock calculates a P/E of -13.00 and P/B of 10.33 at the 2026-10-13 close, with ROE of -109.74% and ROCE of -43.84%. The Piotroski score is 0/9, the FairStock score is 15/100, and the Lynch category is none because of losses in each of the last four years. The Altman Z-score of 8.43 and debt-to-equity of 0.46 suggest near-term solvency is not the main issue, but that does not create earning power value. The only moat here would be future patents, regulatory exclusivity, and clinical success in KIT-driven diseases; no approved product yet proves pricing power. Growth is pipeline-dependent. This is a speculative option, not a proven business, and current numbers offer little margin of safety.

In plain English: Cogent Biosciences is a healthcare company that is still testing a new medicine and does not yet sell a product. It has lost money for years and has no reported sales. At $28.09 on 2026-10-13, the price looks expensive compared with its current business numbers, so it depends mostly on future test results.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer