Sectoral Asset Management Inc. Invests $1.16 Million in Cogent Biosciences, Inc. $COGT

Sectoral Asset Management Inc. bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 32,685 shares of the technology company’s stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also recently modified their holdings of COGT. AQR Capital Management LLC lifted its position in shares of Cogent Biosciences by 482.6% in the 1st quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after purchasing an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cogent Biosciences by 6.3% in 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 period. Goldman Sachs Group Inc. lifted its position in shares of Cogent Biosciences by 14.3% in 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 period. Jane Street Group LLC lifted its position 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 purchased a new stake in shares of Cogent Biosciences in the 1st quarter worth about $36,000.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $32.67 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company has a 50-day moving average of $35.34 and a 200 day moving average of $36.17. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of -15.06 and a beta of 0.37. Cogent Biosciences, Inc. has a 1 year low of $4.75 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued 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). As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on COGT. Piper Sandler raised 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 reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Tuesday, March 17th. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. HC Wainwright increased their price target on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group began coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.