Invesco Ltd. cut its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,641 shares of the technology company's stock after selling 455,437 shares during the quarter. Invesco Ltd.'s holdings in Cogent Biosciences were worth $301,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of COGT. Barclays PLC raised its stake in Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company's stock worth $1,897,000 after acquiring an additional 97,541 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cogent Biosciences in the 3rd quarter valued at $147,000. JPMorgan Chase & Co. raised its position in Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company's stock worth $700,000 after acquiring an additional 5,720 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Cogent Biosciences by 60.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 275,292 shares of the technology company's stock valued at $2,147,000 after purchasing an additional 103,293 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Cogent Biosciences by 2,865.3% during the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company's stock worth $7,525,000 after purchasing an additional 932,179 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Robert W. Baird lowered their price objective on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday. Wedbush restated a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, February 25th. HC Wainwright reduced their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Finally, Piper Sandler raised shares of Cogent Biosciences to a "strong-buy" rating in a research note 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.29.
Read Our Latest Research Report on Cogent Biosciences
Cogent Biosciences Stock Performance
COGT stock traded down $0.07 during midday trading on Friday, reaching $4.91. 151,175 shares of the company were exchanged, compared to its average volume of 1,256,775. The stock's 50-day simple moving average is $5.69 and its 200 day simple moving average is $7.81. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $12.61. The company has a market cap of $559.03 million, a price-to-earnings ratio of -1.98 and a beta of 1.91.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.04. On average, research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.
Cogent Biosciences Company 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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