Persistent Asset Partners Ltd Invests $5.35 Million in Cogent Biosciences, Inc. $COGT

Persistent Asset Partners Ltd acquired a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 138,272 shares of the technology company’s stock, valued at approximately $5,351,000. Cogent Biosciences accounts for about 1.6% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after purchasing an additional 652 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Cogent Biosciences in the 2nd quarter worth $27,000. Osaic Holdings Inc. increased its holdings 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 worth $33,000 after buying an additional 1,333 shares during the last quarter. Strs Ohio bought a new position in shares of Cogent Biosciences in the 1st quarter worth $36,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at $37,000.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $37.93 on Monday. Cogent Biosciences, Inc. has a one year low of $11.53 and a one year high of $43.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. The firm’s 50 day simple moving average is $38.01 and its two-hundred day simple moving average is $36.65. The stock has a market capitalization of $6.58 billion, a P/E ratio of -17.56 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.03. As a group, analysts expect that Cogent Biosciences, Inc. will post -2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Guggenheim raised their price target on Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright lifted their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.10.

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.