The unanimous institutional buying signals strong conviction in COGT's pipeline catalysts, likely mastocytosis/mast cell disease readouts. However, the 45-day 13F lag means positions may have been adjusted since June 30. Absence of insider buying suggests management is not adding personal capital at these levels. Monitor for next pipeline data release or insider Form 4 filing to confirm thesis.
Executive Summary
14 active institutional managers accumulated $112.2M net in COGT during Q2 2026, with zero sellers — a strongly one-sided buying cluster. Doublers include Assenagon ($44.4M inflow), Massachusetts Financial Services ($22.3M), and Citigroup ($5.7M). The lack of insider open-market buying slightly tempers the signal, but the breadth of active-manager conviction is notable for a $7.2B market cap biotech.
Key Financial Metrics
Institutional Positions
Net institutional flow: $112.2M
▲ Buyers (14)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +387.7% | $55.8M | $44.4M |
| Massachusetts Financial Services | DOUBLED | +127.4% | $39.6M | $22.3M |
| Pictet Asset Management Holding | ADD | +33.1% | $92.6M | $23.8M |
| Citigroup | DOUBLED | +448.1% | $7.0M | $5.7M |
| Bank Of New York Mellon | ADD | +43.2% | $20.7M | $6.3M |
Key Facts
- 14 institutions added positions totaling $248M current holdings, up $112.2M from prior quarter
- Zero institutional sellers in Q2 2026
- Largest buyer: Assenagon Asset Management DOUBLED its stake (+387.7% shares) to $55.8M
- Pictet Asset Management added 594.7K shares (+33.1%) to $92.6M
- Massachusetts Financial Services DOUBLED to $39.6M (+127.4%)
- All buyers are active asset managers — no passive/index fund participation
- Insider open-market buying is absent (confluence score 37/100 — institutions only)
Financial Impact
14 active managers added a net $112.2M of COGT stock, with aggregate positions reaching $248M; the top three inflows were Assenagon $44.4M, Pictet $23.8M, and Massachusetts Financial Services $22.3M
Risk Factors
- Clinical trial failure could reverse the accumulation thesis
- 13F reporting lag: positions may have been partially unwound since quarter-end
- No insider open-market buying to corroborate institutional conviction
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-COGT-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $41.53 $35.28 | ▼ −15.05% | ▼ −14.13% | — |
Aug 10, 2026 7w ago | Press Release | $41.53 $35.28 | ▼ −15.05% | ▼ −14.13% | — |
Aug 9, 2026 7w ago | Institutional Cluster | $41.53 $35.28 | ▼ −15.05% | ▼ −14.13% | — |
Jun 12, 2026 16w ago | Press Release | $33.10 $38.87 | ▲ +17.43% | ▲ +15.65% | — |
Jun 12, 2026 16w ago | Press Release | $33.10 $38.87 | ▲ +17.43% | ▲ +15.65% | — |
May 30, 2026 17w ago | Press Release | $34.81 $38.70 | ▲ +11.18% | ▲ +12.47% | — |
May 28, 2026 18w ago | Press Release | $35.38 $38.10 | ▲ +7.69% | ▲ +10.83% | — |
May 5, 2026 21w ago | 8-K | $36.98 $32.76 | ▼ −11.41% | ▼ −16.37% | — |
Apr 17, 2026 24w ago | Press Release | $37.25 $34.19 | ▼ −8.21% | ▼ −13.59% | — |
Apr 1, 2026 26w ago | Press Release | $35.24 $35.87 | ▲ +1.79% | ▼ −7.93% | — |
US Market Status
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