Principal Financial Group Inc. Takes $3.91 Million Position in Cogent Biosciences, Inc. $COGT

Principal Financial Group Inc. acquired a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the third quarter, HoldingsChannel reports. The fund acquired 272,460 shares of the technology company’s stock, valued at approximately $3,913,000.

A number of other large investors have also recently bought and sold shares of COGT. Osaic Holdings Inc. boosted its stake in Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 22.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the period. CWM LLC grew its stake in Cogent Biosciences by 25.3% during the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after buying an additional 1,126 shares during the last quarter. Strs Ohio bought a new position in Cogent Biosciences during the 1st quarter worth $36,000. Finally, Ameritas Investment Partners Inc. increased its position in Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after buying an additional 1,543 shares during the period.

Insider Transactions at Cogent Biosciences

In other news, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the sale, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total value of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares in the company, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,737,642 shares of company stock worth $136,600,345 in the last three months. 7.29% of the stock is currently owned by company insiders.

Cogent Biosciences Stock Down 0.5%

COGT stock opened at $36.53 on Monday. The firm’s 50-day moving average is $37.86 and its two-hundred day moving average is $25.40. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -22.27 and a beta of 0.45. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

COGT has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Wednesday, January 21st. HC Wainwright boosted their target price on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, Leerink Partners boosted their price objective on Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Three 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.55.

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.