Bank of New York Mellon Corp purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 533,968 shares of the technology company's stock, valued at approximately $20,665,000. Bank of New York Mellon Corp owned approximately 0.31% of Cogent Biosciences as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in COGT. Deerfield Management Company L.P. increased its holdings in shares of Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company's stock worth $130,003,000 after acquiring an additional 6,412,903 shares in the last quarter. RTW Investments LP grew its position in shares of 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. Vanguard Group Inc. increased its stake in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company's stock worth $408,989,000 after purchasing an additional 3,756,664 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Cogent Biosciences during the 3rd quarter worth approximately $38,348,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cogent Biosciences by 2,758.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,564,062 shares of the technology company's stock worth $91,076,000 after buying an additional 2,474,346 shares during the period.
Cogent Biosciences Price Performance
NASDAQ:COGT opened at $34.67 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The stock's 50-day simple moving average is $38.74 and its 200 day simple moving average is $36.60. The company has a market cap of $6.02 billion, a P/E ratio of -16.05 and a beta of 0.38. Cogent Biosciences, Inc. has a 52-week low of $11.60 and a 52-week 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) earnings per share for the quarter, topping analysts' consensus estimates of ($0.55) by $0.03. As a group, sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. HC Wainwright increased their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Guggenheim lifted 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. Piper Sandler boosted their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Finally, Wall Street Zen raised Cogent Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cogent Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $49.40.
Read Our Latest Research Report on COGT
About Cogent Biosciences
(
Free Report)
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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