Deutsche Bank AG Reduces Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Deutsche Bank AG decreased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 51.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,265 shares of the technology company's stock after selling 83,593 shares during the quarter. Deutsche Bank AG owned 0.07% of Cogent Biosciences worth $618,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its position in Cogent Biosciences by 124.8% during the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company's stock worth $1,897,000 after purchasing an additional 97,541 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock worth $180,000 after buying an additional 2,200 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the fourth quarter worth about $81,000. Vanguard Group Inc. raised its position in Cogent Biosciences by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock valued at $47,840,000 after acquiring an additional 418,975 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Cogent Biosciences by 466.6% in the fourth quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company's stock valued at $3,627,000 after acquiring an additional 382,882 shares during the period.

Cogent Biosciences Trading Down 2.4%

NASDAQ:COGT traded down $0.13 during trading hours on Friday, reaching $5.38. 2,296,259 shares of the company were exchanged, compared to its average volume of 1,273,043. The firm has a market cap of $612.55 million, a PE ratio of -2.17 and a beta of 1.91. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $12.61. The stock's 50-day moving average is $4.97 and its 200-day moving average is $7.12.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COGT. Piper Sandler raised shares of Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday. Wedbush reiterated a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Finally, Robert W. Baird dropped their target price on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.57.

Cogent Biosciences 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.