Cogent Biosciences, Inc. $COGT Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Cogent Biosciences stake by 26.5% in the second quarter, adding 43,892 shares to own 209,402 shares valued at approximately $8.1 million.
• Institutional interest broadly strengthened, with AQR Capital, Goldman Sachs, Jane Street, and other investors increasing or initiating positions in COGT.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $51.56. Cogent reported quarterly EPS of -$0.52, beating the consensus estimate of -$0.55.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,402 shares of the technology company's stock after buying an additional 43,892 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of Cogent Biosciences worth $8,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC increased its position 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 valued at $963,000 after acquiring an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cogent Biosciences by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company's stock worth $377,000 after acquiring an additional 3,693 shares during the period. Goldman Sachs Group Inc. lifted its position in Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company's stock worth $5,924,000 after acquiring an additional 124,069 shares during the period. Jane Street Group LLC grew its stake in Cogent Biosciences by 66.2% during the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company's stock valued at $742,000 after purchasing an additional 49,338 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Cogent Biosciences during the 1st quarter valued at about $36,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on COGT shares. Wedbush restated an "outperform" rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. Piper Sandler upped their target price on Cogent Biosciences from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Cogent Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Guggenheim lifted their price objective on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. One equities research analyst has 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.56.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $34.76 on Tuesday. Cogent Biosciences, Inc. has a 52-week low of $11.60 and a 52-week high of $43.73. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.03 billion, a PE ratio of -16.09 and a beta of 0.31. The business has a 50-day simple moving average of $38.42 and a 200-day simple moving average of $36.50.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.03. On average, equities analysts expect that Cogent Biosciences, Inc. will post -2.25 EPS for the current 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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