Virtu Financial LLC Takes $1.34 Million Position in Cogent Biosciences, Inc. $COGT

Virtu Financial LLC bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 37,619 shares of the technology company’s stock, valued at approximately $1,336,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. boosted its stake in shares of Cogent Biosciences by 242.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after acquiring an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC boosted its stake in shares of 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 worth $129,289,000 after acquiring an additional 2,777,777 shares in the last quarter. RTW Investments LP boosted its stake in shares of Cogent Biosciences by 119.0% during the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after acquiring an additional 4,124,755 shares in the last quarter. Finally, Commodore Capital LP grew its position in shares of 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 acquiring an additional 4,938,836 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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 price target for the company. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Finally, HC Wainwright boosted their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $34.54 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The stock’s 50 day simple moving average is $34.43 and its 200-day simple moving average is $36.37. The company has a market cap of $5.90 billion, a PE ratio of -15.92 and a beta of 0.34. Cogent Biosciences, Inc. has a 1-year low of $6.92 and a 1-year high of $43.73.

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

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.