Fox Run Management L.L.C. Purchases 36,518 Shares of Cogent Biosciences, Inc. $COGT

Key Points

• Fox Run Management L.L.C. increased its position in Cogent Biosciences by 361.3% in Q1, acquiring an additional 36,518 shares, bringing their total to 46,626 shares valued at approximately $279,000.
• Equities analysts have generally issued a favorable outlook, with a consensus target price of $18.70 and multiple firms upgrading their ratings on the stock, including Guggenheim with a "buy" rating.
• Cogent Biosciences reported a loss of ($0.53) EPS for the last quarter, surpassing analyst expectations, and the company's shares currently trade around $11.76.

Fox Run Management L.L.C. boosted its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 361.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,626 shares of the technology company's stock after acquiring an additional 36,518 shares during the quarter. Fox Run Management L.L.C.'s holdings in Cogent Biosciences were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COGT. CWM LLC boosted its position in Cogent Biosciences by 11,869.9% in the first quarter. CWM LLC now owns 8,738 shares of the technology company's stock valued at $52,000 after buying an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cogent Biosciences during the fourth quarter worth approximately $78,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences during the fourth quarter worth approximately $81,000. E Fund Management Co. Ltd. raised its stake in shares of Cogent Biosciences by 37.7% during the first quarter. E Fund Management Co. Ltd. now owns 15,670 shares of the technology company's stock worth $94,000 after buying an additional 4,290 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Cogent Biosciences by 1,911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,167 shares of the technology company's stock worth $95,000 after buying an additional 11,562 shares during the last quarter.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Cogent Biosciences from $23.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Leerink Partners upped their target price on shares of Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. Robert W. Baird upped their target price on shares of Cogent Biosciences from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wedbush reaffirmed a "neutral" rating and issued a $10.00 target price on shares of Cogent Biosciences in a research note on Monday, June 30th. Finally, HC Wainwright lowered their price objective on shares of Cogent Biosciences from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $18.70.

Cogent Biosciences Stock Up 3.0%

Shares of NASDAQ COGT traded up $0.35 during mid-day trading on Friday, reaching $12.12. 1,148,287 shares of the company were exchanged, compared to its average volume of 1,425,426. The company's 50-day simple moving average is $10.28 and its 200-day simple moving average is $7.56. The stock has a market capitalization of $1.38 billion, a P/E ratio of -6.81 and a beta of 0.36. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $12.97.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released 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. As a group, equities research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Cogent Biosciences Company 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.