Vivo Capital LLC lessened its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT – Free Report) by 82.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 422,300 shares of the technology company’s stock after selling 1,976,693 shares during the quarter. Cogent Biosciences comprises about 1.4% of Vivo Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Vivo Capital LLC’s holdings in Cogent Biosciences were worth $16,254,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. raised its stake in shares of Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after buying an additional 6,412,903 shares in the last quarter. RTW Investments LP raised its stake in shares of Cogent Biosciences by 119.0% in the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after buying an additional 4,124,755 shares in the last quarter. State Street Corp lifted its holdings in shares of Cogent Biosciences by 3.5% in the fourth quarter. State Street Corp now owns 4,940,300 shares of the technology company’s stock valued at $175,479,000 after buying an additional 164,881 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Cogent Biosciences by 42.8% during the fourth quarter. Janus Henderson Group PLC now owns 4,537,408 shares of the technology company’s stock valued at $161,115,000 after buying an additional 1,359,365 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on COGT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, HC Wainwright lifted 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. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.90.
Cogent Biosciences Price Performance
NASDAQ COGT opened at $41.36 on Friday. Cogent Biosciences, Inc. has a 1 year low of $10.38 and a 1 year high of $43.73. The business’s fifty day moving average is $36.53 and its two-hundred day moving average is $36.49. The stock has a market capitalization of $7.07 billion, a P/E ratio of -19.06 and a beta of 0.34. 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 (NASDAQ:COGT – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). On average, research analysts forecast 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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