Candriam S.C.A. Raises Stock Holdings in Cogent Biosciences, Inc. $COGT

Candriam S.C.A. grew its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 17.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,516,297 shares of the technology company’s stock after buying an additional 219,822 shares during the quarter. Candriam S.C.A. owned 0.89% of Cogent Biosciences worth $58,362,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Cogent Biosciences by 48.4% in the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after acquiring an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. lifted its holdings in Cogent Biosciences by 242.9% during the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC grew its position in shares of Cogent Biosciences by 44.6% in the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the period. RTW Investments LP grew its position in shares of Cogent Biosciences by 119.0% in the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after purchasing an additional 4,124,755 shares during the period. Finally, Commodore Capital LP increased its stake in shares of Cogent Biosciences by 213.7% during the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock worth $104,110,000 after purchasing an additional 4,938,836 shares in the last quarter.

Cogent Biosciences Stock Down 4.0%

Shares of NASDAQ:COGT opened at $38.87 on Friday. Cogent Biosciences, Inc. has a 52-week low of $10.38 and a 52-week high of $43.73. The stock has a market cap of $6.64 billion, a P/E ratio of -17.91 and a beta of 0.34. The business has a fifty day moving average of $35.02 and a two-hundred day moving average of $36.26. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COGT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday. Jefferies Financial Group started coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Finally, HC Wainwright raised their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.73.

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.