Parkman Healthcare Partners LLC Acquires Shares of 253,365 Cogent Biosciences, Inc. $COGT

Parkman Healthcare Partners LLC bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 253,365 shares of the technology company’s stock, valued at approximately $9,805,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COGT. Pier Capital LLC purchased a new position in shares of Cogent Biosciences in the fourth quarter worth $1,643,000. Vanguard Group Inc. boosted its position in shares of Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Cogent Biosciences by 710.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after buying an additional 98,602 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Cogent Biosciences in the 4th quarter worth about $1,330,000. Finally, SEB Asset Management AB purchased a new position in Cogent Biosciences in the 1st quarter worth about $6,329,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COGT shares. HC Wainwright upped their target price on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Piper Sandler increased their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average price target of $49.40.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $36.23 on Tuesday. Cogent Biosciences, Inc. has a 12-month low of $11.60 and a 12-month high of $43.73. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -16.77 and a beta of 0.38. The company has a current ratio of 13.57, a quick ratio of 13.57 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $38.55 and a 200 day moving average of $36.61.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.03. On average, research analysts anticipate that Cogent Biosciences, Inc. will post -2.24 earnings per share 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.