Tema ETFs LLC increased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT – Free Report) by 36.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 241,565 shares of the technology company’s stock after buying an additional 64,898 shares during the quarter. Tema ETFs LLC’s holdings in Cogent Biosciences were worth $9,349,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in COGT. EverSource Wealth Advisors LLC grew its stake in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares in the last quarter. Strs Ohio acquired a new stake in Cogent Biosciences in the 1st quarter valued at $36,000. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences in the 4th quarter valued at $37,000. Finally, Parallel Advisors LLC bought a new stake in Cogent Biosciences during the 1st quarter valued at $39,000.
Cogent Biosciences Trading Down 6.8%
NASDAQ COGT opened at $38.70 on Wednesday. The business’s fifty day moving average is $37.65 and its 200-day moving average is $36.65. 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 stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of -17.83 and a beta of 0.38. Cogent Biosciences, Inc. has a one year low of $10.98 and a one year high of $43.73.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on COGT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. HC Wainwright lifted their price objective on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.90.
View Our Latest Stock Analysis on COGT
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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