Cogent Biosciences, Inc. $COGT Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,514,562 shares of the technology company’s stock after buying an additional 240,407 shares during the period. Geode Capital Management LLC owned approximately 2.47% of Cogent Biosciences worth $124,862,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COGT. EverSource Wealth Advisors LLC lifted its stake in shares of Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Cogent Biosciences in the 4th quarter worth $37,000. PNC Financial Services Group Inc. lifted its stake in shares of Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cogent Biosciences by 91.7% in the 4th 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. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after acquiring an additional 488 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COGT shares. 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 note on Wednesday, February 18th. HC Wainwright raised their target price on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Finally, Robert W. Baird set a $35.00 target price on shares of Cogent Biosciences in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $31.02 on Friday. Cogent Biosciences, Inc. has a 52 week low of $6.11 and a 52 week high of $43.73. 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 firm’s 50-day simple moving average is $35.05 and its 200 day simple moving average is $36.67. The firm has a market capitalization of $5.30 billion, a PE ratio of -14.29 and a beta of 0.34.

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). On average, equities research analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Cogent Biosciences 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.