Commodore Capital LP Has $78.03 Million Position in Cogent Biosciences, Inc. $COGT

Commodore Capital LP decreased its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,196,845 shares of the technology company’s stock after selling 5,053,155 shares during the period. Cogent Biosciences accounts for approximately 5.2% of Commodore Capital LP’s holdings, making the stock its 6th biggest holding. Commodore Capital LP owned about 1.54% of Cogent Biosciences worth $78,032,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Cogent Biosciences by 1,164.3% in 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 in the last quarter. Osaic Holdings Inc. lifted its position in shares of Cogent Biosciences by 41.4% during the second 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 bought a new stake in shares of Cogent Biosciences during the first quarter valued at approximately $36,000. Global Retirement Partners LLC bought a new stake in shares of Cogent Biosciences during the fourth quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,032 shares in the last quarter.

Wall Street Analyst Weigh In

COGT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. HC Wainwright lifted their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price target on Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Finally, Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Cogent Biosciences Stock Performance

COGT stock opened at $33.67 on Thursday. Cogent Biosciences, Inc. has a twelve month low of $6.92 and a twelve month high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.75 billion, a P/E ratio of -15.52 and a beta of 0.34. The business’s fifty day moving average is $34.50 and its 200-day moving average is $36.42.

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

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.