Nantahala Capital Management LLC raised its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 852,855 shares of the technology company's stock after buying an additional 61,919 shares during the period. Nantahala Capital Management LLC owned about 0.77% of Cogent Biosciences worth $6,652,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of COGT. FMR LLC grew its holdings in shares of Cogent Biosciences by 99.2% in the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock valued at $129,240,000 after purchasing an additional 8,249,845 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cogent Biosciences by 7.3% in 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 during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Cogent Biosciences by 5.8% in 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 lifted its position in shares of Cogent Biosciences by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,308,509 shares of the technology company's stock worth $18,011,000 after purchasing an additional 27,716 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of 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 purchasing an additional 283,506 shares in the last quarter.
Cogent Biosciences Price Performance
Shares of NASDAQ:COGT traded up $0.24 on Friday, reaching $5.87. The company's stock had a trading volume of 1,011,472 shares, compared to its average volume of 1,257,268. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $12.61. The stock has a market capitalization of $668.33 million, a P/E ratio of -2.37 and a beta of 1.67. The stock's 50-day moving average is $5.88 and its two-hundred day moving average is $8.04.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Wedbush restated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. 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 note on Tuesday, January 14th. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Finally, Robert W. Baird reduced their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $14.43.
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Cogent Biosciences Profile
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Free Report)
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.
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