Exome Asset Management LLC Makes New Investment in Cogent Biosciences, Inc. $COGT

Key Points

• Exome Asset Management LLC has acquired 621,678 shares of Cogent Biosciences, valued at approximately $3.72 million, making it the firm's 9th largest holding.
• Cogent Biosciences reported a quarterly earnings per share of ($0.53), exceeding analysts' expectations, and has a predicted annual earnings per share of -$2.42.
• Several brokerages have recently upgraded their ratings on Cogent Biosciences, with price targets ranging from $9.00 to $30.00, indicating a generally optimistic outlook for the stock.

Exome Asset Management LLC acquired a new position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 621,678 shares of the technology company's stock, valued at approximately $3,724,000. Cogent Biosciences makes up 3.2% of Exome Asset Management LLC's investment portfolio, making the stock its 9th biggest position. Exome Asset Management LLC owned about 0.55% of Cogent Biosciences at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its position in Cogent Biosciences by 11,869.9% during the 1st quarter. CWM LLC now owns 8,738 shares of the technology company's stock valued at $52,000 after purchasing an additional 8,665 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Cogent Biosciences during the 4th quarter worth approximately $78,000. Hsbc Holdings PLC bought a new stake in Cogent Biosciences during the 4th quarter worth approximately $81,000. E Fund Management Co. Ltd. raised its stake in Cogent Biosciences by 37.7% during the 1st quarter. E Fund Management Co. Ltd. now owns 15,670 shares of the technology company's stock worth $94,000 after acquiring an additional 4,290 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of Cogent Biosciences during the first quarter valued at approximately $101,000.

Cogent Biosciences Trading Down 1.2%

Cogent Biosciences stock traded down $0.15 during mid-day trading on Friday, hitting $12.66. The company had a trading volume of 1,784,361 shares, compared to its average volume of 1,472,122. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.11 and a beta of 0.35. The company's fifty day moving average is $11.83 and its 200-day moving average is $8.02. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $13.50.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. As a group, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COGT has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price on shares of Cogent Biosciences from $23.00 to $28.00 and gave the company a "buy" rating in a report on Monday, July 7th. Wedbush reaffirmed a "neutral" rating and set a $10.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 30th. Robert W. Baird boosted their target price on shares of Cogent Biosciences from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Guggenheim boosted their target price on shares of Cogent Biosciences from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, HC Wainwright decreased their price objective on Cogent Biosciences from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Insider Activity

In other Cogent Biosciences news, Director Fairmount Funds Management Llc acquired 2,777,777 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was purchased at an average cost of $9.00 per share, with a total value of $24,999,993.00. Following the transaction, the director owned 9,003,418 shares of the company's stock, valued at $81,030,762. This trade represents a 44.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.29% of the company's stock.

About Cogent Biosciences

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.