Exome Asset Management LLC Has $10.72 Million Stock Holdings in Cogent Biosciences, Inc. $COGT

Key Points

• Exome Asset Management reduced its Cogent Biosciences stake by 8.8% in the first quarter, selling 27,035 shares. It still held 278,533 shares valued at approximately $10.72 million, representing 5.5% of its portfolio.
• Cogent Biosciences shares opened at $40.44, near their 52-week high of $43.73, with a market capitalization of $6.91 billion. The company reported quarterly EPS of $(0.53), in line with analyst expectations.
• Analyst sentiment remains broadly positive, with an average rating of “Moderate Buy” and a consensus price target of $45.90; HC Wainwright and Wedbush each set $55 targets, despite one sell rating.

Exome Asset Management LLC lessened its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,533 shares of the technology company's stock after selling 27,035 shares during the period. Cogent Biosciences makes up about 5.5% of Exome Asset Management LLC's holdings, making the stock its 2nd biggest holding. Exome Asset Management LLC owned 0.16% of Cogent Biosciences worth $10,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company's stock worth $25,000 after acquiring an additional 652 shares in the last quarter. Osaic Holdings Inc. raised its position in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,333 shares in the last quarter. Strs Ohio purchased a new stake in Cogent Biosciences during the first quarter valued at about $36,000. Global Retirement Partners LLC bought a new stake in Cogent Biosciences during the fourth quarter worth about $37,000. Finally, Parallel Advisors LLC bought a new stake in Cogent Biosciences during the first quarter worth about $39,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $40.44 on Tuesday. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.91 billion, a PE ratio of -18.64 and a beta of 0.34. The company's fifty day moving average is $36.04 and its 200 day moving average is $36.39. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73.

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

Analyst Upgrades and Downgrades

COGT has been the topic of several recent research reports. HC Wainwright increased their price objective on Cogent Biosciences to $55.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.90.

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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