Cogent Biosciences, Inc. $COGT Shares Sold by Sona Asset Management US LLC

Sona Asset Management US LLC reduced its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 99.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 80,000 shares of the technology company’s stock after selling 16,025,000 shares during the quarter. Sona Asset Management US LLC’s holdings in Cogent Biosciences were worth $3,079,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Deerfield Management Company L.P. raised its stake in shares of Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. RTW Investments LP grew its stake in Cogent Biosciences by 119.0% in the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after purchasing an additional 4,124,755 shares in the last quarter. Vanguard Group Inc. grew its stake in Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after purchasing an additional 3,756,664 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Cogent Biosciences in the third quarter valued at about $38,348,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cogent Biosciences by 2,758.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,564,062 shares of the technology company’s stock valued at $91,076,000 after buying an additional 2,474,346 shares during the last quarter.

Analyst Upgrades and Downgrades

COGT has been the topic of several research reports. HC Wainwright upped their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, Wedbush reiterated 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, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $45.90.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $39.76 on Monday. The firm’s 50-day moving average is $35.86 and its 200-day moving average is $36.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. Cogent Biosciences, Inc. has a 1 year low of $10.38 and a 1 year high of $43.73. The company has a market cap of $6.79 billion, a P/E ratio of -18.32 and a beta of 0.34.

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

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.