Cogent Biosciences, Inc. $COGT Shares Sold by Hennion & Walsh Asset Management Inc.

Key Points

• Hennion & Walsh Asset Management cut its Cogent Biosciences stake by 59.6% in the second quarter, selling 194,697 shares and retaining 131,775 shares valued at approximately $5.1 million.
• Cogent shares opened at $42.39, near their 52-week high of $43.73, with a $7.24 billion market capitalization and strong liquidity ratios, including a 15.14 quick ratio.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $45.90, although Weiss Ratings maintained a sell rating.

Hennion & Walsh Asset Management Inc. lessened its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 59.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,775 shares of the technology company's stock after selling 194,697 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.08% of Cogent Biosciences worth $5,100,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Cogent Biosciences by 4.9% during the 4th quarter. CWM LLC now owns 5,858 shares of the technology company's stock worth $208,000 after purchasing an additional 276 shares during the period. Steward Partners Investment Advisory LLC increased its position in Cogent Biosciences by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company's stock worth $77,000 after purchasing an additional 300 shares in the last quarter. Optimize Financial Inc raised its holdings in Cogent Biosciences by 1.4% in the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company's stock valued at $1,173,000 after buying an additional 472 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Cogent Biosciences by 2.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company's stock valued at $888,000 after buying an additional 527 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company's stock valued at $25,000 after buying an additional 652 shares in the last quarter.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $42.39 on Monday. The business's 50-day simple moving average is $37.39 and its 200 day simple moving average is $36.65. The company has a market cap of $7.24 billion, a P/E ratio of -19.53 and a beta of 0.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. Cogent Biosciences, Inc. has a one year low of $10.70 and a one year high of $43.73.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COGT shares. HC Wainwright boosted their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Wedbush reissued an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $45.90.

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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