Cogent Biosciences, Inc. $COGT Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 162.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,325 shares of the technology company’s stock after buying an additional 30,500 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Cogent Biosciences were worth $354,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Cogent Biosciences by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock worth $187,000 after purchasing an additional 1,020 shares during the period. Corton Capital Inc. lifted its stake in Cogent Biosciences by 6.4% during the second quarter. Corton Capital Inc. now owns 17,438 shares of the technology company’s stock worth $125,000 after purchasing an additional 1,046 shares in the last quarter. 49 Wealth Management LLC boosted its position in shares of Cogent Biosciences by 19.0% during the second quarter. 49 Wealth Management LLC now owns 15,508 shares of the technology company’s stock worth $111,000 after buying an additional 2,476 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $377,000 after buying an additional 3,693 shares during the period. Finally, E Fund Management Co. Ltd. raised its holdings in shares of Cogent Biosciences by 37.7% in the 1st quarter. E Fund Management Co. Ltd. now owns 15,670 shares of the technology company’s stock valued at $94,000 after buying an additional 4,290 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COGT. Leerink Partners lifted their target price on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, November 10th. Raymond James Financial started coverage on shares of Cogent Biosciences in a research note on Tuesday, September 2nd. They issued a “strong-buy” rating and a $30.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $30.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Guggenheim boosted their target price on Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Cogent Biosciences Stock Down 0.6%

Shares of NASDAQ:COGT opened at $40.16 on Monday. The firm has a 50 day simple moving average of $21.44 and a 200-day simple moving average of $13.81. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $41.27. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5.72 billion, a PE ratio of -24.48 and a beta of 0.49.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.04. On average, equities analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Cogent Biosciences Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.