Major Biotech Fund Offloads $120M Worth of Cogent Biosciences Shares

Summary:

1. Fairmount Funds Management LLC, an insider at Cogent Biosciences, sold 3,500,000 shares for approximately $127.4 million in 2026.
2. The sale reduced Fairmount Funds Management LLC’s indirect holdings by 38.87%, leaving them with 5,503,418 shares at a time when Cogent Biosciences shares were priced at around $36.40.
3. Despite the sale, Fairmount Funds Management LLC still holds approximately 67,414 units of Series A Convertible Preferred Stock in addition to the remaining common shares, indicating continued interest in the biotech company.

   A significant transaction took place in 2026 when Fairmount Funds Management LLC, an insider at Cogent Biosciences, sold 3,500,000 shares for a total of approximately $127.4 million. This sale reduced their indirect holdings by 38.87%, leaving them with 5,503,418 shares. The timing of the transaction coincided with Cogent Biosciences shares being priced at around $36.40, slightly lower than the closing price on that day. Despite the sale, Fairmount Funds Management LLC still maintains a significant position in Cogent Biosciences, holding approximately 67,414 units of Series A Convertible Preferred Stock. This indicates continued interest and investment in the biotech company, reinforcing their confidence in its future prospects.