Evergreen Quality Fund GP Ltd. bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 250,000 shares of the technology company’s stock, valued at approximately $8,880,000.
A number of other institutional investors have also bought and sold shares of COGT. Vanguard Group Inc. raised its holdings in Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after acquiring an additional 3,756,664 shares during the period. Deerfield Management Company L.P. grew its position in shares of Cogent Biosciences by 242.9% during the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC raised its stake in Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the period. Commodore Capital LP raised its stake in Cogent Biosciences by 213.7% during the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after purchasing an additional 4,938,836 shares during the period. Finally, State Street Corp lifted its holdings in Cogent Biosciences by 3.5% in the 4th quarter. State Street Corp now owns 4,940,300 shares of the technology company’s stock worth $175,479,000 after purchasing an additional 164,881 shares in the last quarter.
Analyst Ratings Changes
COGT has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. HC Wainwright boosted their target price on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird set a $35.00 target price on shares of Cogent Biosciences in a research report on Thursday, February 19th. Jefferies Financial Group began coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.
Cogent Biosciences Trading Up 1.8%
Shares of COGT opened at $33.67 on Thursday. The stock has a market capitalization of $5.75 billion, a PE ratio of -15.52 and a beta of 0.34. The company’s fifty day moving average is $34.50 and its 200 day moving average is $36.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. Cogent Biosciences, Inc. has a fifty-two week low of $6.92 and a fifty-two week high of $43.73.
Cogent Biosciences (NASDAQ:COGT – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting the consensus estimate of ($0.53). Sell-side analysts expect that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.
Cogent Biosciences 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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