Elmind Capital LP 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 disclosure with the SEC. The institutional investor purchased 1,170,740 shares of the technology company's stock, valued at approximately $45,307,638. Cogent Biosciences comprises about 0.0% of Elmind Capital LP's portfolio, making the stock its biggest position. Elmind Capital LP owned 0.67% of Cogent Biosciences at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of COGT. Pier Capital LLC purchased a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $1,643,000. Vanguard Group Inc. raised its holdings in Cogent Biosciences by 48.4% in the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company's stock worth $408,989,000 after purchasing an additional 3,756,664 shares during the period. Pictet Asset Management Holding SA grew its position in Cogent Biosciences by 710.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company's stock worth $4,232,000 after acquiring an additional 98,602 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $1,330,000. Finally, SEB Asset Management AB purchased a new position in shares of Cogent Biosciences in the first quarter worth $6,329,000.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on COGT. Wall Street Zen raised Cogent Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Guggenheim lifted their target price on Cogent Biosciences from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. Piper Sandler lifted their target price 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.
Check Out Our Latest Stock Analysis on Cogent Biosciences
Cogent Biosciences Trading Down 6.3%
COGT stock traded down $2.32 during mid-day trading on Friday, reaching $34.77. The company had a trading volume of 1,268,300 shares, compared to its average volume of 2,187,262. The firm has a 50 day moving average of $38.74 and a 200 day moving average of $36.62. Cogent Biosciences, Inc. has a 12 month low of $11.60 and a 12 month high of $43.73. The company has a market capitalization of $6.03 billion, a PE ratio of -16.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.03. On average, equities analysts predict that Cogent Biosciences, Inc. will post -2.24 earnings per share for the current fiscal year.
About Cogent Biosciences
(
Free Report)
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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