EFG International AG Takes $3.40 Million Position in Cogent Biosciences, Inc. $COGT

Key Points

• EFG International AG initiated a position in Cogent Biosciences, purchasing 87,739 shares worth approximately $3.40 million, representing 0.05% of the company.
• Several institutional investors increased their holdings, including AQR Capital Management, Goldman Sachs, and Jane Street Group, signaling growing institutional interest in the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $49.40 versus the reported share price of $36.72. Cogent also slightly exceeded quarterly EPS expectations, reporting a loss of $0.52 per share.

EFG International AG purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 87,739 shares of the technology company's stock, valued at approximately $3,396,000. EFG International AG owned 0.05% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Cogent Biosciences by 482.6% in the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company's stock worth $963,000 after purchasing an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cogent Biosciences by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company's stock valued at $377,000 after buying an additional 3,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cogent Biosciences by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company's stock valued at $5,924,000 after buying an additional 124,069 shares in the last quarter. Jane Street Group LLC boosted its stake in Cogent Biosciences by 66.2% in the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company's stock worth $742,000 after purchasing an additional 49,338 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Cogent Biosciences in the first quarter worth $36,000.

Wall Street Analysts Forecast Growth

COGT has been the topic of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Guggenheim increased their price objective on Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Cogent Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, Piper Sandler boosted their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.40.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $36.72 on Thursday. Cogent Biosciences, Inc. has a 52-week low of $11.60 and a 52-week high of $43.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. The stock has a fifty day moving average price of $38.69 and a two-hundred day moving average price of $36.62. The firm has a market capitalization of $6.37 billion, a P/E ratio of -17.00 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.03. As a group, analysts anticipate that Cogent Biosciences, Inc. will post -2.24 EPS for the current fiscal year.

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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