Assenagon Asset Management S.A. Sells 79,976 Shares of Cogent Biosciences, Inc. $COGT

Assenagon Asset Management S.A. decreased its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 21.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,650 shares of the technology company’s stock after selling 79,976 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Cogent Biosciences worth $11,380,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COGT. EverSource Wealth Advisors LLC lifted its position in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after buying an additional 652 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. lifted its holdings in shares of Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Cogent Biosciences by 91.7% in the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 655 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted 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 purchasing an additional 1,692 shares in the last quarter.

Cogent Biosciences Trading Up 0.3%

NASDAQ COGT opened at $38.12 on Friday. The firm has a market capitalization of $6.51 billion, a PE ratio of -17.56 and a beta of 0.34. The stock’s 50 day moving average is $34.48 and its 200 day moving average is $36.30. Cogent Biosciences, Inc. has a twelve month low of $7.07 and a twelve 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 posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Research analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COGT has been the subject of a number of recent research reports. Jefferies Financial Group started 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. HC Wainwright raised their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus 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.