Cogent Biosciences, Inc. $COGT Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,514,562 shares of the technology company’s stock after acquiring an additional 240,407 shares during the quarter. Geode Capital Management LLC’s holdings in Cogent Biosciences were worth $124,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of Cogent Biosciences by 1,164.3% during the 4th 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 last quarter. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences during the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. increased its position in Cogent Biosciences by 414.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,032 shares in the last quarter. GAMMA Investing LLC increased its position in Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after purchasing an additional 655 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Cogent Biosciences by 35.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares in the last quarter.

Cogent Biosciences Stock Performance

Shares of COGT opened at $31.02 on Friday. The business’s fifty day moving average price is $35.05 and its 200 day moving average price is $36.67. Cogent Biosciences, Inc. has a 12-month low of $6.11 and a 12-month high of $43.73. The stock has a market capitalization of $5.30 billion, a PE ratio of -14.29 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

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

Analyst Ratings Changes

A number of analysts recently issued reports on COGT shares. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Piper Sandler upped their price target on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a report on Thursday, February 19th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average 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.