Renaissance Technologies LLC Raises Stake in Cogent Biosciences, Inc. $COGT

Renaissance Technologies LLC boosted its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 2.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 706,268 shares of the technology company’s stock after purchasing an additional 17,200 shares during the period. Renaissance Technologies LLC’s holdings in Cogent Biosciences were worth $27,184,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Cogent Biosciences by 482.6% in the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after acquiring an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cogent Biosciences by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after purchasing an additional 3,693 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after purchasing an additional 124,069 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Cogent Biosciences by 66.2% in the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after purchasing an additional 49,338 shares during the period. Finally, Strs Ohio bought a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $36,000.

Analysts Set New Price Targets

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

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $39.57 on Thursday. The firm has a market cap of $6.76 billion, a P/E ratio of -18.23 and a beta of 0.34. 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 company’s 50 day moving average is $36.36 and its 200-day moving average is $36.45. Cogent Biosciences, Inc. has a 12-month low of $10.38 and a 12-month high of $43.73.

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

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.