Assenagon Asset Management S.A. Sells 201,378 Shares of Cogent Biosciences, Inc. $COGT

Assenagon Asset Management S.A. lowered its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 34.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 375,626 shares of the technology company’s stock after selling 201,378 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cogent Biosciences were worth $13,342,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Cogent Biosciences by 91.7% in the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after acquiring an additional 655 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cogent Biosciences by 22.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock worth $78,000 after acquiring an additional 1,003 shares during the period. CWM LLC increased its position in Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,126 shares during the last quarter. ProShare Advisors LLC increased its position in Cogent Biosciences by 4.5% during the third quarter. ProShare Advisors LLC now owns 27,203 shares of the technology company’s stock valued at $391,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in 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.

Insiders Place Their Bets

In other Cogent Biosciences news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the transaction, the director owned 5,503,418 shares in the company, valued at $200,324,415.20. The trade was a 38.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.29% of the stock is owned by company insiders.

Cogent Biosciences Stock Down 2.1%

Shares of NASDAQ:COGT opened at $36.10 on Friday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -16.71 and a beta of 0.47. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $43.73. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $37.14 and a 200 day moving average price of $30.40.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, February 17th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, equities research analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

COGT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Piper Sandler raised their price objective on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a report on Tuesday, March 17th. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.45.

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.