Assenagon Asset Management S.A. Has $1.41 Million Stock Position in Cogent Biosciences, Inc. $COGT

Key Points

• Assenagon Asset Management S.A. has significantly reduced its stake in Cogent Biosciences by 58.5%, now holding approximately 196,659 shares worth $1.41 million.
• Director Fairmount Funds Management LLC acquired 2.78 million shares at $9.00 each, resulting in a 44.62% increase in their ownership.
• Analysts have mixed outlooks for Cogent Biosciences, with price targets ranging from $7.00 to $30.00 and an average rating of "Moderate Buy."

Assenagon Asset Management S.A. lowered its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 58.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 196,659 shares of the technology company's stock after selling 277,034 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of Cogent Biosciences worth $1,412,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of COGT. Ameriprise Financial Inc. grew its position in shares of Cogent Biosciences by 78.6% during the 4th quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company's stock worth $168,000 after purchasing an additional 9,459 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cogent Biosciences by 7.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company's stock worth $456,000 after acquiring an additional 3,831 shares during the period. ProShare Advisors LLC lifted its stake in Cogent Biosciences by 30.5% in the 4th quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company's stock valued at $242,000 after purchasing an additional 7,267 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cogent Biosciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company's stock valued at $1,058,000 after purchasing an additional 17,741 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Cogent Biosciences by 3.9% in the 1st quarter. Rhumbline Advisers now owns 130,458 shares of the technology company's stock valued at $781,000 after purchasing an additional 4,877 shares during the last quarter.

Insider Buying and Selling at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc acquired 2,777,777 shares of the company's stock in a transaction on Thursday, July 10th. The shares were purchased at an average cost of $9.00 per share, with a total value of $24,999,993.00. Following the completion of the purchase, the director owned 9,003,418 shares of the company's stock, valued at approximately $81,030,762. This represents a 44.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Robert W. Baird increased their price objective on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Raymond James Financial started coverage on shares of Cogent Biosciences in a research report on Tuesday, September 2nd. They set a "strong-buy" rating and a $30.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. Finally, Guggenheim increased their price objective on shares of Cogent Biosciences from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Cogent Biosciences Trading Up 6.5%

NASDAQ:COGT opened at $14.16 on Friday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -7.96 and a beta of 0.35. The firm has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $8.39. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $14.18.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. Equities analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Cogent Biosciences 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.

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.