Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price31.59 USD
Fair value55.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown31.59+0.0% to today
2026-08-25Read Distribution41.80-24.4% to today ✓
2026-07-02Read Markdown33.10-4.6% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Cogent Biosciences, Inc. holds its Markdown at $31.59. The statistical read favours the sellers, held for 161 days.
As held on the ledger · 2026-10-01
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 161 days
Price at the screen
$31.59
Valuation
N/A trailing · -28.41 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.31
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
25.47%
Below 33%
Interest-bearing debt is just 25.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
62.79%
Below 33%
Interest-bearing cash and securities are 62.8% of assets, above the one-third limit.
Fail
Receivables
33.28%
Below 49%
Money owed to the company is 33.3% of assets, under the 49% limit.
Pass
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Cogent Biosciences,'s business is fine, but its cash and interest-bearing securities are about 63% of its assets, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-10-01 screen. The gold marker is the market price at the same screen. A 74.1% margin of safety to the base estimate.
Third-party analyst targets: 11 covering, consensus None. The average target sits +74% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-01 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Biotech Developer With No Profits And No Data
Picture a lab racing to finish a drug that might treat rare genetic diseases, only to watch every dollar vanish before a single patient pays. Cogent Biosciences fits that picture exactly. It is still in Phase 3 with its lead candidate and shows zero profit margin plus an ROE of minus 86 percent, yet the shares trade at a forward multiple of minus 40.9 times. Analysts see a median target of 55 dollars, but our screen returns none.
We pass because the ethical screen flags insufficient data on basic financial ratios, leaving no reliable way to judge governance or long-term impact. A clinical-stage firm burning cash at this pace offers no margin of safety that meets our standards, regardless of the headline valuation gap.
The real risk sits in trial failure and dilution, both common when profit margins stay at zero and return on equity stays deeply negative. Without clearer numbers the position stays unworkable.
The risks · The things to watch: as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
COGT trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$31.59-24.4%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 24.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 319%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (12 analysts) rates it strong buy, with a mean price target of $54.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 7.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 319%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (12 analysts) rates it strong buy, with a mean price target of $54.
2026-07-25Markdown$39.08+18.1%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 18.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 319%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (12 analysts) rates it strong buy, with a mean price target of $54.
2026-07-18Markdown$33.10+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 319%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (12 analysts) rates it strong buy, with a mean price target of $54.
2026-07-03Markdown$33.10+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markdown$33.10Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
