COGT Healthcare

Cogent Biosciences, Inc.

$31.06+4.47%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 5.4B USD
Enterprise value: 4.6B USD
Full-time employees: 258

Overall health

Strength: lower risk than most peers: a steadier share price and more short-term liquiditylower risk: a steadier share price and more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Not enough data: growth

Would rank #857 of 1,157 fully scored healthcare companies (bottom 27%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 148% from December 2022 to August 2026.
Cogent Biosciences had 148% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Cogent Biosciences had 148% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Cogent Biosciences looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Cogent Biosciences reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

38/ 100

Oct 5 38 → Nov 4 38

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 1429.9% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-7.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-8.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-5.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield9.9%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

Insufficient data

Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

15/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0706 · MAD: 0.1217

Return on assets-45.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -8.73Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-53.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -5.80Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin0.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-70.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.31

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.94Sector median: 0.6250 · MAD: 0.3380

Current ratio13.57×

SEC filings · latest balance sheetReported value33% base weight · Z-score 7.93Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.42×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.97Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Cogent Biosciences

Is Cogent Biosciences getting weaker?: Its latest SEC filing (Aug 10, 2026) got weaker in some ways: 12-month revenue fell 66.0%; share count up 1429.9%. Its overall score is unchanged at 38/100 since Oct 28, 2026.
How is Cogent Biosciences valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -7.0% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -7.0% vs peers 1.5% (weaker than 100% of peers).
Is Cogent Biosciences growing?: Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is Cogent Biosciences?: Less profitable than most of its peers. Profitability scores 15/100 against 1,393 healthcare peers. Return on assets -45.2% vs a peer median of 1.7% (weaker than 92% of peers).Return on assets -45.2% vs peers 1.7% (weaker than 92% of peers).
How risky is Cogent Biosciences?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 13.57× vs a peer median of 2.59× (stronger than 92% of peers).Current ratio 13.57× vs peers 2.59× (stronger than 92% of peers). Debt / equity 0.42× vs a peer median of 0.22× (weaker than 62% of peers).Debt / equity 0.42× vs peers 0.22× (weaker than 62% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2020 · filed Aug 10, 2026 · compared with the quarter ended Sep 30, 2020

Got weaker

12-month revenue fell 66.0%
Share count up 1429.9% (existing holders diluted)

Worth watching: Cogent Biosciences is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	23.2M USD	7.9M USD	−66.0%
Net income (12 months)	−61.2M USD	−377.2M USD	+516.6%
Operating margin	-295.8%	-4943.4%	−4647.6 pts
Cash	129.4M USD	181.2M USD	+40.0%
Shares outstanding	11.3M	173.5M	+1429.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Biotechnology · 132 companies

Valuations in Biotechnology are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +530% vs the whole market, against a usual +637%.

2016Shaded: most expensive fifth of its range2026

Earnings-based measures are left out for now because many companies in Biotechnology are losing money.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	—	—	—	—	—	—
Net margin	—	—	—	—	—	—
Return on assets (ROA)	-31.1%	-46.6%	-61.4%	-78.0%	-35.1%	▲ 43 pts
Return on equity (ROE)	-33.7%	-54.8%	-74.6%	-99.8%	-51.7%	▲ 48 pts
Current ratio	13.04×	9.87×	7.09×	5.32×	14.23×	▲ 167%
Debt to equity	—	—	—	—	0.35×	—
Interest coverage	—	—	—	—	-108.87×	—

COGT price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

BB Biotech AGBBZA.DE100/ 100

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: a steadier share price and more short-term liquiditylower risk: a steadier share price and more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Not enough data: growth

Would rank #857 of 1,157 fully scored healthcare companies (bottom 27%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 148% from December 2022 to August 2026.

Cogent Biosciences had 148% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Cogent Biosciences had 148% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Cogent Biosciences looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Cogent Biosciences reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about Cogent Biosciences

Is Cogent Biosciences getting weaker?

Its latest SEC filing (Aug 10, 2026) got weaker in some ways: 12-month revenue fell 66.0%; share count up 1429.9%. Its overall score is unchanged at 38/100 since Oct 28, 2026.

How is Cogent Biosciences valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -7.0% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -7.0% vs peers 1.5% (weaker than 100% of peers).

Is Cogent Biosciences growing?

Insufficient data: 1 of 3 inputs reported (at least 2 needed).

How profitable is Cogent Biosciences?

Less profitable than most of its peers. Profitability scores 15/100 against 1,393 healthcare peers. Return on assets -45.2% vs a peer median of 1.7% (weaker than 92% of peers).Return on assets -45.2% vs peers 1.7% (weaker than 92% of peers).

How risky is Cogent Biosciences?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 13.57× vs a peer median of 2.59× (stronger than 92% of peers).Current ratio 13.57× vs peers 2.59× (stronger than 92% of peers). Debt / equity 0.42× vs a peer median of 0.22× (weaker than 62% of peers).Debt / equity 0.42× vs peers 0.22× (weaker than 62% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

23.2M USD

7.9M USD

−66.0%

Net income (12 months)

−61.2M USD

−377.2M USD

+516.6%

Operating margin

-295.8%

-4943.4%

−4647.6 pts

Cash

129.4M USD

181.2M USD

+40.0%

Shares outstanding

11.3M

173.5M

+1429.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

—

Net margin

—

Return on assets (ROA)

-31.1%

-46.6%

-61.4%

-78.0%

-35.1%

▲ 43 pts

Return on equity (ROE)

-33.7%

-54.8%

-74.6%

-99.8%

-51.7%

▲ 48 pts

Current ratio

13.04×

9.87×

7.09×

5.32×

14.23×

▲ 167%

Debt to equity

—

0.35×

—

Interest coverage

—

-108.87×

—