Cogent Biosciences, Inc. $COGT Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,842,776 shares of the technology company’s stock after buying an additional 449,261 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.64% of Cogent Biosciences worth $90,990,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cogent Biosciences by 26.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 209,402 shares of the technology company’s stock valued at $8,104,000 after purchasing an additional 43,892 shares during the period. Sculptor Capital LP acquired a new position in Cogent Biosciences during the second quarter worth approximately $1,935,000. Wellington Management Group LLP increased its position in Cogent Biosciences by 21.4% during the second quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company’s stock worth $168,112,000 after purchasing an additional 765,355 shares during the last quarter. Legal & General Group Plc acquired a new position in Cogent Biosciences during the second quarter worth approximately $3,824,000. Finally, SEB Asset Management AB purchased a new position in Cogent Biosciences during the first quarter worth approximately $6,329,000.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $33.54 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. Cogent Biosciences, Inc. has a 1-year low of $27.74 and a 1-year high of $43.73. The firm has a market capitalization of $5.82 billion, a P/E ratio of -14.91 and a beta of 0.36. The business’s 50-day simple moving average is $31.80 and its 200-day simple moving average is $35.48.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Thursday, November 5th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). Equities analysts predict that Cogent Biosciences, Inc. will post -2.23 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on COGT. Piper Sandler lifted their price target on shares of Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Wednesday, September 16th. Guggenheim upped their price objective on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, October 2nd. Finally, HC Wainwright increased their target price on Cogent Biosciences from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.57.

Cogent Biosciences Profile

Cogent Biosciences is a clinical-stage biotechnology company developing precision medicines for diseases driven by specific genetic mutations. Its research focuses on targeted therapies intended to address the underlying causes of these conditions.

The company’s lead investigational medicine, bezuclastinib, is a selective inhibitor of the KIT protein. Cogent has studied it in clinical programs for systemic mastocytosis and gastrointestinal stromal tumors (GIST), conditions in which abnormal KIT signaling can play a role.