Nicholas Investment Partners LP Takes $5.37 Million Position in Cogent Biosciences, Inc. $COGT

Nicholas Investment Partners LP purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 151,066 shares of the technology company’s stock, valued at approximately $5,366,000. Nicholas Investment Partners LP owned about 0.11% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of COGT. EverSource Wealth Advisors LLC lifted its stake in shares of 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 during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Cogent Biosciences by 41.4% in the 2nd 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 last quarter. Strs Ohio bought a new position in shares of Cogent Biosciences in the 1st quarter valued at $36,000. Global Retirement Partners LLC bought a new position in shares of Cogent Biosciences in the 4th quarter valued at $37,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,032 shares during the last quarter.

Cogent Biosciences Stock Performance

COGT stock opened at $33.10 on Friday. The stock has a 50-day moving average price of $34.62 and a 200-day moving average price of $36.58. Cogent Biosciences, Inc. has a 1-year low of $6.88 and a 1-year high of $43.73. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.66 billion, a PE ratio of -15.25 and a beta of 0.34.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COGT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research note on Thursday, February 19th. HC Wainwright increased their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group assumed coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

About Cogent Biosciences

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.