Bank of America Corp DE reduced its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 92.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,067 shares of the technology company's stock after selling 462,345 shares during the quarter. Bank of America Corp DE's holdings in Cogent Biosciences were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cogent Biosciences during the 4th quarter worth about $78,000. Hsbc Holdings PLC purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $81,000. KLP Kapitalforvaltning AS purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $88,000. E Fund Management Co. Ltd. purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $89,000. Finally, Proficio Capital Partners LLC purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $93,000.
Cogent Biosciences Stock Down 1.9%
COGT opened at $7.08 on Friday. The firm has a market capitalization of $806.10 million, a P/E ratio of -2.85 and a beta of 1.82. The firm's 50 day moving average is $5.17 and its 200-day moving average is $6.93. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $12.61.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. Equities analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
COGT has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Scotiabank initiated coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target on the stock. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Finally, Wedbush reiterated a "neutral" rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Three 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $14.57.
Read Our Latest Stock Analysis on COGT
About Cogent Biosciences
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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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