J. Goldman & Co LP Makes New $24.69 Million Investment in Cogent Biosciences, Inc. $COGT

J. Goldman & Co LP purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 637,994 shares of the technology company’s stock, valued at approximately $24,690,000. Cogent Biosciences makes up about 0.6% of J. Goldman & Co LP’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in COGT. EverSource Wealth Advisors LLC increased its stake 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 period. J.Safra Asset Management Corp acquired a new position in Cogent Biosciences in the 2nd quarter valued at approximately $27,000. Osaic Holdings Inc. raised its stake in shares of Cogent Biosciences by 41.4% during the second 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 acquired a new position in shares of Cogent Biosciences during the first quarter worth $36,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Cogent Biosciences in the fourth quarter worth $37,000.

Cogent Biosciences Trading Up 1.6%

NASDAQ COGT opened at $36.80 on Wednesday. The stock has a market capitalization of $6.39 billion, a P/E ratio of -17.04 and a beta of 0.38. The business has a 50 day simple moving average of $38.62 and a 200 day simple moving average of $36.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. Research analysts expect that Cogent Biosciences, Inc. will post -2.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COGT. Piper Sandler lifted their target price on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. 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. Guggenheim lifted their price objective on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two investment 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 issued a Sell rating to the company. According to MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $49.40.

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.