Cogent Biosciences, Inc. $COGT Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 17.0% in the 1st quarter, HoldingsChannel reports. The fund owned 1,516,297 shares of the technology company’s stock after purchasing an additional 219,822 shares during the quarter. Candriam S.C.A.’s holdings in Cogent Biosciences were worth $58,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COGT. Summit Securities Group LLC purchased a new stake in Cogent Biosciences in the first quarter valued at $46,000. Peregrine Capital Management LLC acquired a new stake in shares of Cogent Biosciences during the 1st quarter worth about $7,773,000. Pictet Asset Management Holding SA raised its holdings in Cogent Biosciences by 1,499.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,798,768 shares of the technology company’s stock valued at $68,826,000 after buying an additional 1,686,292 shares during the period. Bank of Hawaii purchased a new stake in Cogent Biosciences in the 4th quarter valued at about $929,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Cogent Biosciences by 3,845.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the technology company’s stock valued at $62,000 after buying an additional 1,692 shares during the last quarter.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $38.87 on Friday. The firm has a 50 day moving average of $35.02 and a two-hundred day moving average of $36.26. The stock has a market capitalization of $6.64 billion, a PE ratio of -17.91 and a beta of 0.34. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). On average, research analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on COGT shares. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. HC Wainwright lifted their target price on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

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.