BNP Paribas Financial Markets Has $7.07 Million Stock Holdings in Cogent Biosciences, Inc. $COGT

BNP Paribas Financial Markets decreased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 71.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 198,969 shares of the technology company’s stock after selling 498,995 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cogent Biosciences were worth $7,067,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in COGT. Fairmount Funds Management LLC boosted its position in Cogent Biosciences by 44.6% during the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after purchasing an additional 2,777,777 shares during the period. Pier Capital LLC acquired a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $1,643,000. Vanguard Group Inc. lifted its holdings in shares of Cogent Biosciences by 18.9% during the third quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock worth $111,400,000 after buying an additional 1,234,711 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Cogent Biosciences by 123.3% during the third quarter. Candriam S.C.A. now owns 954,209 shares of the technology company’s stock worth $13,702,000 after buying an additional 526,867 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Cogent Biosciences in the third quarter valued at $3,913,000.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of recent research reports. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research note on Thursday, February 19th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 target price for the company. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Piper Sandler upped their target price on Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $31.98 on Wednesday. The business’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $36.66. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -14.74 and a beta of 0.34. Cogent Biosciences, Inc. has a 12-month low of $6.88 and a 12-month 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.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, research analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current year.

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.