Bank of Hawaii Invests $929,000 in Cogent Biosciences, Inc. $COGT

Bank of Hawaii purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,142 shares of the technology company’s stock, valued at approximately $929,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the last quarter. Deerfield Management Company L.P. lifted its position in Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after acquiring an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC boosted its stake in Cogent Biosciences by 44.6% during the 3rd 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 last quarter. RTW Investments LP boosted its stake in Cogent Biosciences by 119.0% during the 4th 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 last quarter. Finally, Commodore Capital LP boosted its stake in Cogent Biosciences by 213.7% during the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after purchasing an additional 4,938,836 shares during the last quarter.

Cogent Biosciences Price Performance

COGT stock opened at $34.54 on Friday. 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 company’s fifty day moving average price is $34.43 and its 200-day moving average price is $36.37. Cogent Biosciences, Inc. has a one year low of $6.92 and a one year high of $43.73. The company has a market capitalization of $5.90 billion, a PE ratio of -15.92 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last posted its 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, equities analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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