Maven Securities LTD Takes Position in Cogent Biosciences, Inc. $COGT

Maven Securities LTD bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 82,800 shares of the technology company’s stock, valued at approximately $2,941,000.

Other hedge funds have also added to or reduced their stakes in the company. Fairmount Funds Management LLC boosted its stake in Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the last quarter. Vanguard Group Inc. boosted its stake in Cogent Biosciences by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock valued at $111,400,000 after purchasing an additional 1,234,711 shares during the last quarter. Pier Capital LLC acquired a new position in Cogent Biosciences during the 4th quarter valued at about $1,643,000. Principal Financial Group Inc. acquired a new position in Cogent Biosciences during the 3rd quarter valued at about $3,913,000. Finally, Readystate Asset Management LP acquired a new position in Cogent Biosciences during the 3rd quarter valued at about $714,000.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $33.10 on Monday. Cogent Biosciences, Inc. has a 52 week low of $6.88 and a 52 week high of $43.73. The company’s 50 day moving average price is $34.62 and its two-hundred day moving average price is $36.57. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.66 billion, a P/E ratio of -15.25 and a beta of 0.34.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COGT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research note on Thursday, February 19th. Piper Sandler lifted their target price 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. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, HC Wainwright lifted their target price on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.73.

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.