Federated Hermes Inc. Increases Holdings in Cogent Biosciences, Inc. $COGT

Federated Hermes Inc. increased its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 4,661,150.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,225 shares of the technology company’s stock after purchasing an additional 93,223 shares during the period. Federated Hermes Inc.’s holdings in Cogent Biosciences were worth $1,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC increased its holdings in Cogent Biosciences by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock valued at $187,000 after acquiring an additional 1,020 shares during the last quarter. Corton Capital Inc. lifted its stake in shares of Cogent Biosciences by 6.4% in the 2nd quarter. Corton Capital Inc. now owns 17,438 shares of the technology company’s stock valued at $125,000 after purchasing an additional 1,046 shares during the last quarter. CWM LLC lifted its position in Cogent Biosciences by 25.3% in the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after buying an additional 1,126 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Cogent Biosciences by 41.4% in 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 period. Finally, Ameritas Investment Partners Inc. lifted its stake in Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $35.70 on Friday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -21.77 and a beta of 0.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The firm’s 50 day simple moving average is $38.12 and its 200-day simple moving average is $24.17. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. Analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jessica Sachs sold 82,642 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the completion of the transaction, the insider directly owned 133,938 shares of the company’s stock, valued at $5,183,400.60. This represents a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Evan Kearns sold 65,000 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $2,515,500.00. Following the transaction, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This trade represents a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,737,642 shares of company stock worth $136,600,345. Company insiders own 7.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COGT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Stifel Nicolaus upgraded shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, November 10th. UBS Group raised Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.55.

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.