Cogent Biosciences, Inc. $COGT Stock Holdings Raised by Fox Run Management L.L.C.

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 filing with the Securities and Exchange Commission. The fund owned 46,626 shares of the technology company's stock after buying an additional 36,518 shares during the period. Fox Run Management L.L.C.'s holdings in Cogent Biosciences were worth $279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COGT. CWM LLC lifted its holdings in shares of Cogent Biosciences by 11,869.9% during the 1st quarter. CWM LLC now owns 8,738 shares of the technology company's stock worth $52,000 after acquiring an additional 8,665 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cogent Biosciences during the 4th quarter worth $78,000. Hsbc Holdings PLC purchased a new position in shares of Cogent Biosciences in the 4th quarter worth $81,000. E Fund Management Co. Ltd. raised its position in shares of Cogent Biosciences by 37.7% in the 1st 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 period. Finally, Tower Research Capital LLC TRC boosted its holdings in Cogent Biosciences by 1,911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,167 shares of the technology company's stock valued at $95,000 after acquiring an additional 11,562 shares during the last quarter.

Cogent Biosciences Stock Down 2.7%

Shares of Cogent Biosciences stock traded down $0.33 during trading hours on Monday, hitting $11.79. 811,093 shares of the company's stock traded hands, compared to its average volume of 1,394,652. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $12.97. The company has a market cap of $1.34 billion, a PE ratio of -6.62 and a beta of 0.36. The stock has a 50 day simple moving average of $10.36 and a 200-day simple moving average of $7.56.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. As a group, equities research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COGT shares. Citigroup raised their price objective on Cogent Biosciences from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Leerink Partners raised their price target on shares of Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Jefferies Financial Group boosted their price objective on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, July 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. Finally, HC Wainwright reduced their target price on shares of Cogent Biosciences from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insider Activity at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc bought 2,777,777 shares of Cogent Biosciences stock in a transaction dated Thursday, July 10th. The stock was bought at an average cost of $9.00 per share, for a total transaction of $24,999,993.00. Following the purchase, the director owned 9,003,418 shares in the company, valued at $81,030,762. This represents a 44.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.29% of the company's stock.

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.