Strs Ohio Decreases Stock Holdings in Cogent Biosciences, Inc. $COGT

Strs Ohio cut its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 41.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,900 shares of the technology company’s stock after selling 12,600 shares during the period. Strs Ohio’s holdings in Cogent Biosciences were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new position in shares of Cogent Biosciences during the 1st quarter valued at about $7,773,000. Pictet Asset Management Holding SA raised its stake in Cogent Biosciences by 1,499.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,798,768 shares of the technology company’s stock worth $68,826,000 after purchasing an additional 1,686,292 shares during the period. Bank of Hawaii acquired a new position in Cogent Biosciences in the 4th quarter valued at about $929,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Cogent Biosciences by 3,845.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the technology company’s stock valued at $62,000 after buying an additional 1,692 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Cogent Biosciences in the 4th quarter valued at approximately $1,919,000.

Cogent Biosciences Trading Down 0.1%

Shares of COGT stock opened at $39.97 on Thursday. Cogent Biosciences, Inc. has a fifty-two week low of $9.25 and a fifty-two week high of $43.73. The company has a 50 day moving average price of $34.88 and a 200 day moving average price of $36.24. The stock has a market capitalization of $6.83 billion, a P/E ratio of -18.42 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). Equities research analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COGT. Jefferies Financial Group started coverage on Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. HC Wainwright raised their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

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.