Trexquant Investment LP Has $1.10 Million Stake in Cogent Biosciences, Inc. $COGT

Key Points

• Trexquant Investment LP reduced its stake in Cogent Biosciences, Inc. by 33.8%, selling 93,702 shares and owning approximately 0.16% of the company at a value of $1.1 million.
• Director Fairmount Funds Management LLC significantly increased its position by acquiring 2,777,777 shares, bringing their total ownership to about 9 million shares valued at over $81 million.
• Analysts have varying price targets for Cogent Biosciences, with some upgrades leading to a consensus target of $20.00 and a rating of "Moderate Buy".

Trexquant Investment LP reduced its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 33.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 183,821 shares of the technology company's stock after selling 93,702 shares during the period. Trexquant Investment LP owned approximately 0.16% of Cogent Biosciences worth $1,101,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of COGT. Tower Research Capital LLC TRC lifted 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 buying an additional 11,562 shares during the period. Hsbc Holdings PLC acquired a new position in Cogent Biosciences in the fourth quarter valued at approximately $81,000. Price T Rowe Associates Inc. MD raised its holdings in Cogent Biosciences by 12.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 49,643 shares of the technology company's stock worth $388,000 after purchasing an additional 5,486 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Cogent Biosciences in the fourth quarter worth $131,000. Finally, Northern Trust Corp raised its holdings in Cogent Biosciences by 7.7% in the fourth quarter. Northern Trust Corp now owns 912,713 shares of the technology company's stock worth $7,119,000 after purchasing an additional 65,415 shares during the period.

Cogent Biosciences Stock Down 1.2%

Shares of NASDAQ:COGT traded down $0.15 during midday trading on Friday, reaching $12.66. 1,784,361 shares of the company were exchanged, compared to its average volume of 1,432,141. Cogent Biosciences, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $13.50. The stock has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $8.00. The firm has a market cap of $1.44 billion, a PE ratio of -7.11 and a beta of 0.35.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Leerink Partners increased their target price on shares of Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a report on Tuesday, June 17th. Robert W. Baird increased their target price on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group increased their target price on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cogent Biosciences currently has an average rating of "Moderate Buy" and an average price target of $20.00.

Insiders Place Their Bets

In other Cogent Biosciences news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was acquired at an average price of $9.00 per share, with a total value of $24,999,993.00. Following the completion of the transaction, the director owned 9,003,418 shares in the company, valued at approximately $81,030,762. This trade represents a 44.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.29% of the company's stock.

About Cogent Biosciences

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.