Cogent Biosciences, Inc. $COGT Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group boosted its position in Cogent Biosciences by 48.4% in Q4, holding 11,514,326 shares (about 8.09% of the company) valued at roughly $409 million.
• Analyst coverage is broadly favorable with a consensus rating of "Moderate Buy" and a $43.73 consensus price target, though individual ratings range from Strong Buy to Sell.
• Shares traded near $35.91 (down 2.9%), the company has a market cap of about $6.13 billion, reported (-$0.53) EPS last quarter, and analysts expect -2.14 EPS for the current fiscal year.

Vanguard Group Inc. increased its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 48.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,514,326 shares of the technology company's stock after acquiring an additional 3,756,664 shares during the quarter. Vanguard Group Inc. owned approximately 8.09% of Cogent Biosciences worth $408,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COGT. AQR Capital Management LLC raised its stake in Cogent Biosciences by 482.6% during the first 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. raised its stake in 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 worth $377,000 after acquiring an additional 3,693 shares during the period. Goldman Sachs Group Inc. raised its stake in Cogent Biosciences by 14.3% during the first 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 raised its stake 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 acquiring an additional 49,338 shares during the period. Finally, Strs Ohio acquired a new stake in Cogent Biosciences during the first quarter worth about $36,000.

Analyst Upgrades and Downgrades

COGT has been the topic of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Piper Sandler raised their price target on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They issued a "buy" rating and a $55.00 price target on the stock. Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Tuesday, March 17th. Finally, Wall Street Zen lowered shares of Cogent Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.73.

Cogent Biosciences Trading Down 2.9%

Cogent Biosciences stock opened at $35.91 on Thursday. The firm has a 50 day simple moving average of $36.44 and a 200-day simple moving average of $34.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 14.23 and a quick ratio of 14.23. The stock has a market capitalization of $6.13 billion, a PE ratio of -16.55 and a beta of 0.37. Cogent Biosciences, Inc. has a 12-month low of $4.55 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). As a group, equities research analysts expect that Cogent Biosciences, Inc. will post -2.14 EPS for the current fiscal year.

About Cogent Biosciences

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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