Cogent Biosciences, Inc. $COGT Shares Acquired by Siren L.L.C.

Key Points

• Siren L.L.C. increased its Cogent Biosciences stake by 4.9% in Q1, buying 80,000 additional shares and bringing its total to 1,709,279 shares, worth about $65.8 million.
• Several other institutional investors also boosted positions, including AQR Capital Management (up 482.6%) and Goldman Sachs (up 14.3%), while analysts currently rate the stock a Moderate Buy with an average target price of $45.90.
• Cogent Biosciences shares were trading at $40.24, near their 52-week high of $43.73, after the company reported earnings that matched expectations; the stock has a market cap of $6.88 billion and the company remains a clinical-stage biopharmaceutical firm focused on CSF1R-targeted cancer therapies.

Siren L.L.C. boosted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,709,279 shares of the technology company's stock after buying an additional 80,000 shares during the period. Cogent Biosciences accounts for 1.8% of Siren L.L.C.'s portfolio, making the stock its 15th biggest holding. Siren L.L.C. owned about 1.00% of Cogent Biosciences worth $65,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Cogent Biosciences by 482.6% in the 1st quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company's stock worth $963,000 after acquiring an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cogent Biosciences by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company's stock valued at $377,000 after acquiring an additional 3,693 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Cogent Biosciences by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company's stock valued at $5,924,000 after acquiring an additional 124,069 shares during the period. Jane Street Group LLC raised its holdings in Cogent Biosciences by 66.2% during the first quarter. Jane Street Group LLC now owns 123,822 shares of the technology company's stock worth $742,000 after purchasing an additional 49,338 shares in the last quarter. Finally, Strs Ohio bought a new stake in Cogent Biosciences during the first quarter worth approximately $36,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Finally, HC Wainwright upped their price objective on Cogent Biosciences to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Two equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.90.

Cogent Biosciences Stock Performance

Shares of COGT opened at $40.24 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The firm's 50 day moving average is $35.71 and its 200-day moving average is $36.31. Cogent Biosciences, Inc. has a 12-month low of $10.38 and a 12-month high of $43.73. The stock has a market capitalization of $6.88 billion, a P/E ratio of -18.54 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting the consensus estimate of ($0.53). Equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Cogent Biosciences Profile

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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