Cogent Biosciences, Inc. (NASDAQ:COGT) is Octagon Capital Advisors LP's 8th Largest Position

Octagon Capital Advisors LP raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 111.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,763,000 shares of the technology company's stock after purchasing an additional 1,458,000 shares during the period. Cogent Biosciences accounts for approximately 3.5% of Octagon Capital Advisors LP's investment portfolio, making the stock its 8th largest holding. Octagon Capital Advisors LP owned about 2.50% of Cogent Biosciences worth $21,551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new position in Cogent Biosciences in the 4th quarter valued at about $78,000. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the 4th quarter worth $81,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth about $88,000. E Fund Management Co. Ltd. purchased a new position in Cogent Biosciences during the 4th quarter worth $89,000. Finally, Proficio Capital Partners LLC acquired a new position in Cogent Biosciences during the fourth quarter worth $93,000.

Cogent Biosciences Trading Up 6.7%

COGT stock opened at $5.13 on Tuesday. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $12.61. The stock has a market capitalization of $584.08 million, a PE ratio of -2.07 and a beta of 1.91. The stock's 50 day simple moving average is $5.60 and its 200 day simple moving average is $7.65.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on COGT shares. Robert W. Baird reduced their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. HC Wainwright dropped their price target on shares of 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 assumed coverage on Cogent Biosciences in a report on Friday, March 7th. They set a "sector outperform" rating and a $17.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.29.

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.

Want to see what other hedge funds are holding COGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.