Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Purchased by Algert Global LLC

Algert Global LLC increased its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 92.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,235 shares of the technology company's stock after buying an additional 165,210 shares during the quarter. Algert Global LLC owned about 0.31% of Cogent Biosciences worth $2,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Cogent Biosciences by 99.2% in the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock valued at $129,240,000 after buying an additional 8,249,845 shares during the period. Vanguard Group Inc. increased its holdings in shares of Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock valued at $47,840,000 after purchasing an additional 418,975 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Cogent Biosciences by 5.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company's stock valued at $33,540,000 after purchasing an additional 233,966 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cogent Biosciences by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,308,509 shares of the technology company's stock worth $18,011,000 after buying an additional 27,716 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Cogent Biosciences by 28.3% during the fourth quarter. Franklin Resources Inc. now owns 1,283,673 shares of the technology company's stock worth $10,013,000 after buying an additional 283,506 shares in the last quarter.

Cogent Biosciences Stock Down 4.7%

Shares of Cogent Biosciences stock traded down $0.24 during trading hours on Tuesday, reaching $4.89. 193,636 shares of the company's stock were exchanged, compared to its average volume of 1,254,631. The company has a market capitalization of $556.76 million, a P/E ratio of -1.97 and a beta of 1.91. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $12.61. The business has a fifty day moving average of $5.60 and a two-hundred day moving average of $7.65.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.04. As a group, research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Wedbush restated a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. HC Wainwright decreased their target price on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Scotiabank started coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target on the stock. Finally, Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.29.

Cogent Biosciences Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.