Kennedy Capital Management LLC Has $12.52 Million Position in Cogent Biosciences, Inc. $COGT

Kennedy Capital Management LLC reduced its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,387 shares of the technology company’s stock after selling 231,498 shares during the quarter. Kennedy Capital Management LLC owned 0.25% of Cogent Biosciences worth $12,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Cogent Biosciences during the fourth quarter worth $860,000. Aigen Investment Management LP acquired a new position in Cogent Biosciences during the fourth quarter worth $201,000. Marshall Wace LLP raised its stake in Cogent Biosciences by 158.5% during the fourth quarter. Marshall Wace LLP now owns 1,660,735 shares of the technology company’s stock worth $58,989,000 after acquiring an additional 1,018,256 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Cogent Biosciences by 51.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 96,011 shares of the technology company’s stock worth $3,456,000 after acquiring an additional 32,413 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Cogent Biosciences during the fourth quarter worth $4,066,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COGT. Piper Sandler increased their target price on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. Jefferies Financial Group began coverage on Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Finally, HC Wainwright increased their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Price Performance

Shares of COGT stock opened at $33.10 on Monday. The stock’s fifty day moving average is $34.62 and its 200-day moving average is $36.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The stock has a market capitalization of $5.66 billion, a PE ratio of -15.25 and a beta of 0.34. Cogent Biosciences, Inc. has a 52 week low of $6.88 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting the consensus estimate of ($0.53). Equities research analysts expect 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.