D. E. Shaw & Co. Inc. Trims Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

D. E. Shaw & Co. Inc. reduced its position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,988 shares of the technology company's stock after selling 117,240 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.31% of Cogent Biosciences worth $2,652,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COGT. Schonfeld Strategic Advisors LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $78,000. Hsbc Holdings PLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $81,000. KLP Kapitalforvaltning AS bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $88,000. E Fund Management Co. Ltd. bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $89,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $93,000.

Cogent Biosciences Trading Down 2.6%

Shares of COGT traded down $0.13 during mid-day trading on Friday, reaching $4.82. The company's stock had a trading volume of 877,172 shares, compared to its average volume of 1,262,944. The stock has a market cap of $548.79 million, a PE ratio of -1.94 and a beta of 1.91. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61. The company's fifty day moving average price is $5.18 and its two-hundred day moving average price is $7.26.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. Research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on COGT shares. HC Wainwright dropped their target price on shares of Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Wedbush reiterated a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Scotiabank started coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They set a "sector outperform" rating and a $17.00 target price for the company. Finally, Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Cogent Biosciences Company Profile

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.