Sofinnova Investments Inc. lessened its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT – Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,973,625 shares of the technology company’s stock after selling 154,316 shares during the period. Cogent Biosciences comprises 2.9% of Sofinnova Investments Inc.’s holdings, making the stock its 10th largest position. Sofinnova Investments Inc. owned approximately 1.39% of Cogent Biosciences worth $70,103,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in COGT. AQR Capital Management LLC increased its holdings in Cogent Biosciences by 482.6% during the 1st quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after purchasing an additional 133,174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cogent Biosciences by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after purchasing an additional 3,693 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after purchasing an additional 124,069 shares in the last quarter. Jane Street Group LLC increased its holdings in Cogent Biosciences by 66.2% during the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after purchasing an additional 49,338 shares in the last quarter. Finally, Strs Ohio bought a new position in Cogent Biosciences during the 1st quarter worth about $36,000.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on COGT shares. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. HC Wainwright increased their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Robert W. Baird set a $35.00 price objective on shares of Cogent Biosciences in a research note on Thursday, February 19th. Finally, Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average target price of $43.73.
Cogent Biosciences Trading Up 0.2%
Cogent Biosciences stock opened at $33.17 on Tuesday. The firm has a 50-day moving average of $34.58 and a 200-day moving average of $36.52. Cogent Biosciences, Inc. has a one year low of $6.92 and a one year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -15.29 and a beta of 0.34.
Cogent Biosciences (NASDAQ:COGT – Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). On average, equities analysts expect that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.
Cogent Biosciences Company Profile
Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.
The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.
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