Pictet Asset Management Holding SA Boosts Holdings in Cogent Biosciences, Inc. $COGT

Key Points

• Pictet Asset Management boosted its stake in Cogent Biosciences by 710.7% in Q4, buying an additional 98,602 shares to hold 112,476 shares worth about $4.23 million (≈0.08% of the company).
• COGT stock opened at $36.63, trades in a 52-week range of $4.55–$43.73 with a $6.26 billion market cap, and the company last reported an EPS miss (‑$0.55 vs. ‑$0.51 consensus) with analysts forecasting ‑2.14 EPS for the fiscal year.
• Analyst sentiment is mixed but leans positive with an average rating of "Moderate Buy" and a $43.45 average target; Cogent is a clinical-stage biopharma developing an oral CSF1R inhibitor aimed at modulating the tumor microenvironment.

Pictet Asset Management Holding SA boosted its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 710.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,476 shares of the technology company's stock after purchasing an additional 98,602 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.08% of Cogent Biosciences worth $4,232,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock worth $33,000 after acquiring an additional 1,333 shares during the last quarter. Strs Ohio bought a new position in shares of Cogent Biosciences during the first quarter worth $36,000. GAMMA Investing LLC grew its stake in Cogent Biosciences by 91.7% during the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company's stock valued at $49,000 after acquiring an additional 655 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company's stock valued at $66,000 after acquiring an additional 488 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company's stock valued at $78,000 after acquiring an additional 1,003 shares during the last quarter.

Cogent Biosciences Price Performance

COGT stock opened at $36.63 on Monday. Cogent Biosciences, Inc. has a 52 week low of $4.55 and a 52 week high of $43.73. The firm has a market capitalization of $6.26 billion, a P/E ratio of -16.96 and a beta of 0.37. The company has a fifty day simple moving average of $36.47 and a two-hundred day simple moving average of $34.40. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.04). Analysts anticipate that Cogent Biosciences, Inc. will post -2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COGT has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a report on Friday, April 10th. Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Tuesday, March 17th. Piper Sandler boosted their target price on Cogent Biosciences from $39.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Jefferies Financial Group assumed coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a "buy" rating and a $55.00 price target for the company. Finally, Wall Street Zen downgraded Cogent Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.45.

Cogent Biosciences 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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