447,745 Shares in Cogent Biosciences, Inc. $COGT Purchased by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management initiated a 447,745-share position in Cogent Biosciences worth approximately $17.3 million, representing 0.26% of the company.
• Several major institutions increased their holdings, including Vanguard, Deerfield Management, RTW Investments and Janus Henderson, signaling continued institutional interest in Cogent.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $49.40 versus its $37.87 opening price.

TimesSquare Capital Management LLC purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 447,745 shares of the technology company's stock, valued at approximately $17,328,000. TimesSquare Capital Management LLC owned 0.26% of Cogent Biosciences as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company's stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the last quarter. Deerfield Management Company L.P. boosted its stake in Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company's stock valued at $130,003,000 after purchasing an additional 6,412,903 shares during the period. RTW Investments LP boosted its stake in Cogent Biosciences by 119.0% in the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company's stock valued at $269,676,000 after purchasing an additional 4,124,755 shares during the period. State Street Corp grew its holdings in Cogent Biosciences by 3.5% in the 4th quarter. State Street Corp now owns 4,940,300 shares of the technology company's stock valued at $175,479,000 after buying an additional 164,881 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Cogent Biosciences by 42.8% in the 4th quarter. Janus Henderson Group PLC now owns 4,537,408 shares of the technology company's stock valued at $161,115,000 after buying an additional 1,359,365 shares in the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on COGT shares. Piper Sandler lifted their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday. Wedbush reiterated an "outperform" rating and issued a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Guggenheim boosted their price target on Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, HC Wainwright raised their price objective on Cogent Biosciences to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $49.40.

Cogent Biosciences Stock Performance

NASDAQ:COGT opened at $37.87 on Tuesday. The stock's 50-day simple moving average is $38.14 and its 200 day simple moving average is $36.65. The firm has a market capitalization of $6.57 billion, a PE ratio of -17.53 and a beta of 0.38. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. Cogent Biosciences, Inc. has a twelve month low of $11.53 and a twelve month high of $43.73.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.03. On average, analysts anticipate that Cogent Biosciences, Inc. will post -2.2 EPS for the current fiscal year.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.

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