Cogent Biosciences, Inc. $COGT Stake Cut by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Cogent Biosciences by 63.3% in the first quarter, selling 60,045 shares and leaving it with 34,759 shares valued at about $1.34 million.
• The stock fell 4.0% on Friday to $38.87, with trading volume below average; Cogent now has a market cap of $6.64 billion and a 52-week range of $10.38 to $43.73.
• Analysts remain broadly positive, with several firms reiterating buy/outperform ratings and a consensus price target of $43.73, though Weiss Ratings kept a sell rating.

Y Intercept Hong Kong Ltd cut its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 63.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,759 shares of the technology company's stock after selling 60,045 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Cogent Biosciences were worth $1,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COGT. CWM LLC lifted its position in shares of Cogent Biosciences by 4.9% in the fourth quarter. CWM LLC now owns 5,858 shares of the technology company's stock worth $208,000 after purchasing an additional 276 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Cogent Biosciences by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company's stock valued at $77,000 after purchasing an additional 300 shares in the last quarter. Optimize Financial Inc increased its stake in Cogent Biosciences by 1.4% in the 4th 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. Nisa Investment Advisors LLC increased its stake in Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company's stock valued at $66,000 after buying an additional 488 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Cogent Biosciences by 2.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company's stock worth $888,000 after buying an additional 527 shares in the last quarter.

Cogent Biosciences Stock Down 4.0%

NASDAQ COGT traded down $1.64 during trading on Friday, reaching $38.87. The company's stock had a trading volume of 2,051,954 shares, compared to its average volume of 3,177,672. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $6.64 billion, a PE ratio of -17.91 and a beta of 0.34. Cogent Biosciences, Inc. has a 1-year low of $10.38 and a 1-year high of $43.73. The business has a 50-day moving average price of $35.02 and a 200-day moving average price of $36.26.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting the consensus estimate of ($0.53). On average, research analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on COGT shares. HC Wainwright lifted their target price on shares of Cogent Biosciences to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They set a "buy" rating and a $55.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Wednesday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.73.

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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