Hennion & Walsh Asset Management Inc. Buys 37,938 Shares of Cogent Biosciences, Inc. $COGT

Key Points

• Hennion & Walsh Asset Management raised its Cogent Biosciences (NASDAQ:COGT) stake by 12.6% in Q4, buying 37,938 shares to hold 338,065 shares (about 0.24% of the company) valued at roughly $12.0 million.
• Large institutional moves continue: Deerfield added ~6.41M shares (now ~9.05M), Commodore added ~4.94M (now ~7.25M), and Fairmount — which had increased its position earlier — sold 3.5M shares for ~$127.4M, cutting its ownership by ~38.9%.
• Analyst sentiment is broadly positive with a consensus "Moderate Buy" and an average price target of $43.45, alongside recent upgrades and higher targets from firms including JPMorgan ($67), Piper Sandler ($52) and UBS (strong-buy).

Hennion & Walsh Asset Management Inc. increased its position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,065 shares of the technology company's stock after acquiring an additional 37,938 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.24% of Cogent Biosciences worth $12,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. boosted its position in shares of Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company's stock worth $130,003,000 after purchasing an additional 6,412,903 shares during the period. Commodore Capital LP increased its stake in shares of Cogent Biosciences by 213.7% in the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company's stock worth $104,110,000 after purchasing an additional 4,938,836 shares in the last quarter. Fairmount Funds Management LLC raised its position in shares of Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company's stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Cogent Biosciences during the 3rd quarter valued at $38,348,000. Finally, Vivo Capital LLC lifted its stake in shares of Cogent Biosciences by 148.5% during the 3rd quarter. Vivo Capital LLC now owns 2,789,137 shares of the technology company's stock valued at $40,052,000 after buying an additional 1,666,666 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a report on Monday, December 8th. Piper Sandler raised their price target on Cogent Biosciences from $39.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. HC Wainwright boosted their price objective on Cogent Biosciences to $52.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. UBS Group raised Cogent Biosciences to a "strong-buy" rating in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. increased their target price on Cogent Biosciences to $67.00 and gave the stock an "overweight" rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.45.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $36.10 on Monday. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -16.71 and a beta of 0.47. The firm has a fifty day moving average price of $37.14 and a 200 day moving average price of $30.64. Cogent Biosciences, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $43.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.04). As a group, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Cogent Biosciences

In other news, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total value of $127,400,000.00. Following the sale, the director directly owned 5,503,418 shares of the company's stock, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.29% of the stock is currently owned by insiders.

Cogent Biosciences Company Profile

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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