Knott David M Jr Takes $1.28 Million Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Key Points

• Knott David M Jr has acquired a new position in Cogent Biosciences, Inc., purchasing 213,302 shares valued at approximately $1.28 million.
• Several hedge funds intensified their stakes in Cogent Biosciences, with Janus Henderson Group PLC increasing their position by 84.3% in the fourth quarter.
• Cogent Biosciences recently reported an EPS of (0.53), surpassing analysts' expectations, while its stock price target among analysts averages at $18.70.

Knott David M Jr purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 213,302 shares of the technology company's stock, valued at approximately $1,278,000. Cogent Biosciences makes up about 0.6% of Knott David M Jr's portfolio, making the stock its 24th largest position. Knott David M Jr owned about 0.19% of Cogent Biosciences as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in Cogent Biosciences by 84.3% in the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company's stock worth $227,000 after purchasing an additional 13,300 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Cogent Biosciences by 78.6% in the 4th quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company's stock valued at $168,000 after buying an additional 9,459 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cogent Biosciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company's stock valued at $1,058,000 after buying an additional 17,741 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cogent Biosciences by 30.5% during the 4th quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company's stock worth $242,000 after acquiring an additional 7,267 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cogent Biosciences by 7.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company's stock valued at $456,000 after acquiring an additional 3,831 shares during the period.

Cogent Biosciences Price Performance

COGT opened at $10.96 on Monday. The stock has a market capitalization of $1.25 billion, a P/E ratio of -6.16 and a beta of 0.36. The company's 50 day simple moving average is $9.24 and its 200-day simple moving average is $7.35. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $12.97.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on COGT shares. Leerink Partners lifted their price objective on Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Guggenheim reissued a "buy" rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Tuesday, July 8th. Robert W. Baird increased their target price on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on shares of Cogent Biosciences from $23.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cogent Biosciences from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.70.

Insider Transactions at Cogent Biosciences

In other news, Director Fairmount Funds Management Llc acquired 2,777,777 shares of the company's stock in a transaction 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 acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.29% of the stock is currently owned by corporate insiders.

Cogent Biosciences Company Profile

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.

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