Cogent Biosciences, Inc. $COGT Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 60.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,590 shares of the technology company’s stock after buying an additional 23,311 shares during the period. Intech Investment Management LLC’s holdings in Cogent Biosciences were worth $2,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of COGT. EverSource Wealth Advisors LLC raised its position in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of 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 buying an additional 1,333 shares during the last quarter. Strs Ohio acquired a new stake in shares of Cogent Biosciences in the first quarter valued at about $36,000. Global Retirement Partners LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. raised its position 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 buying an additional 1,032 shares during the last quarter.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $32.26 on Thursday. Cogent Biosciences, Inc. has a 12-month low of $5.49 and a 12-month high of $43.73. The stock has a market cap of $5.51 billion, a P/E ratio of -14.87 and a beta of 0.34. The company has a 50-day moving average price of $35.21 and a 200 day moving average price of $36.72. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT) last released 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). Sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Jefferies Financial Group assumed coverage on shares of Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. HC Wainwright raised their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.73.

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.