Paradigm Biocapital Advisors LP Has $38.36 Million Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Paradigm Biocapital Advisors LP boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,917,412 shares of the technology company's stock after purchasing an additional 307,650 shares during the period. Cogent Biosciences accounts for approximately 1.3% of Paradigm Biocapital Advisors LP's holdings, making the stock its 19th largest holding. Paradigm Biocapital Advisors LP owned approximately 4.45% of Cogent Biosciences worth $38,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at $78,000. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the 4th quarter valued at $88,000. E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences during the 4th quarter valued at $89,000. Finally, Proficio Capital Partners LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at $93,000.

Analysts Set New Price Targets

A number of brokerages have commented on COGT. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Wedbush reiterated a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Scotiabank began coverage on Cogent Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price objective on the stock. Robert W. Baird decreased their price objective on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $14.29.

Cogent Biosciences Trading Up 2.3%

Shares of NASDAQ:COGT traded up $0.11 during midday trading on Friday, hitting $4.88. The company had a trading volume of 632,123 shares, compared to its average volume of 1,257,461. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $12.61. The stock has a market cap of $555.62 million, a price-to-earnings ratio of -1.97 and a beta of 1.91. The firm has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $7.52.

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

Cogent Biosciences Company 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.