Cogent Biosciences, Inc. $COGT Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 24.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,944 shares of the technology company’s stock after selling 27,862 shares during the quarter. Principal Financial Group Inc.’s holdings in Cogent Biosciences were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COGT. CWM LLC increased its stake in Cogent Biosciences by 4.9% during the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after buying an additional 276 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Cogent Biosciences by 16.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after buying an additional 300 shares during the last quarter. Optimize Financial Inc boosted its position in Cogent Biosciences by 1.4% in the 4th quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock valued at $1,173,000 after buying an additional 472 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after acquiring an additional 488 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after acquiring an additional 527 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on COGT shares. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Finally, HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $45.90.

Cogent Biosciences Stock Down 2.7%

NASDAQ:COGT opened at $39.57 on Thursday. 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 stock has a 50 day moving average of $36.36 and a 200-day moving average of $36.45. The firm has a market capitalization of $6.76 billion, a PE ratio of -18.23 and a beta of 0.34. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.53). Analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS 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.