Biotech Stock Up 372% Gets Sold as New Pick Rises 40% in 2026
Key Points
Boone Capital Management sold 945,042 shares of Cogent Biosciences in the fourth quarter.
As a result, the quarter-end position value decreased by $13.57 million.
The position had previously accounted for 4.4% of the fund’s AUM as of the prior quarter.
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On February 17, 2026, Boone Capital Management sold out its entire Cogent Biosciences (NASDAQ:COGT) stake, liquidating 945,042 shares previously worth $13.57 million.
What happened
According to an SEC filing dated February 17, 2026, Boone Capital Management sold its entire holding of 945,042 shares in Cogent Biosciences during the fourth quarter. The quarter-end position value dropped by $13.57 million, reflecting the full liquidation.
What else to know
- Top five holdings after the filing:
- NYSE: MDT: $41.19 million (12.9% of AUM)
- NASDAQ: MIRM: $33.27 million (10.4% of AUM)
- NASDAQ: IONS: $33.05 million (10.4% of AUM)
- NYSE: CI: $26.55 million (8.3% of AUM)
- NASDAQ: BMRN: $24.48 million (7.7% of AUM)
- As of Friday, shares of Cogent Biosciences were priced at $34.40, up a staggering 372% over the past year and vastly outperforming the S&P 500’s roughly 16% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $34.40 |
| Market Capitalization | $5.6 billion |
| Net Income (TTM) | ($328.94 million) |
Company snapshot
- Cogent Biosciences develops precision therapies targeting genetically defined diseases, with a lead product candidate (CGT9486) focused on treating systemic mastocytosis and advanced gastrointestinal stromal tumors.
- The company operates a biotechnology R&D model, generating value through clinical-stage drug development and strategic licensing agreements, such as its partnership with Plexxikon Inc. for bezuclastinib.
- It targets patients with rare genetic mutations, particularly those affected by KIT-driven cancers and systemic mastocytosis, serving the global biopharmaceutical and healthcare markets.
Cogent Biosciences is a clinical-stage biotechnology company specializing in the development of targeted therapies for genetically defined diseases. The company leverages precision medicine and a focused pipeline to address significant unmet medical needs in oncology and rare disease markets. Its strategy centers on advancing innovative kinase inhibitors, supported by strategic collaborations and a commitment to scientific excellence.
What this transaction means for investors
Locking in gains amid a staggering run is often simply about discipline, but what stands out here is where capital shifted in the same period.
To be clear, Cogent is not broken. It is arguably in its strongest position yet, with roughly $900 million in cash as of December 31 and a clear path toward potential commercialization, including multiple NDA filings and a possible launch later this year. But that strength is also the point. Much of the near-term upside may already be reflected after such a massive move, and shares are down about 3% since the end of last quarter.
By contrast, the newer position in TYRA is up more than 40% this year, though it still sits earlier in its clinical and valuation curve. Compared to the fund’s core holdings, which skew toward more established biotech names, this shift looks like a deliberate move back into higher-upside, earlier-stage risk.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ionis Pharmaceuticals and Mirum Pharmaceuticals. The Motley Fool recommends BioMarin Pharmaceutical and Medtronic. The Motley Fool has a disclosure policy.
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