Pier Capital LLC Buys Shares of 46,260 Cogent Biosciences, Inc. $COGT

Key Points

• Pier Capital LLC bought a new stake of 46,260 shares in Cogent Biosciences (NASDAQ:COGT) in Q4, valued at about $1.64 million, while other institutions — led by Vanguard (11.51M shares, ~$409M) and large increases from Deerfield, Fairmount and Commodore — materially boosted positions.
• Analyst coverage is mixed but leans positive with a MarketBeat consensus of Moderate Buy and an average price target of $43.73, though some firms have issued sell ratings while Jefferies and Wedbush carry $55 targets.
• COGT opened at $34.79 (down ~3%), has a market cap of $5.94 billion, reported a recent quarterly EPS of -$0.53 (in line with estimates) and analysts expect roughly -2.11 EPS for the current year, reflecting its clinical-stage, pre-profit profile with strong reported liquidity ratios.

Pier Capital LLC purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,260 shares of the technology company's stock, valued at approximately $1,643,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company's stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the last quarter. 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 buying an additional 6,412,903 shares during the period. Fairmount Funds Management LLC boosted its position in shares of Cogent Biosciences by 44.6% in the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company's stock worth $129,289,000 after buying an additional 2,777,777 shares during the period. Commodore Capital LP boosted its holdings in Cogent Biosciences by 213.7% in the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company's stock valued at $104,110,000 after purchasing an additional 4,938,836 shares during the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Cogent Biosciences by 2.7% in the second quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company's stock valued at $22,114,000 after purchasing an additional 80,000 shares during the last quarter.

Analyst Upgrades and Downgrades

COGT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a report on Friday, April 10th. Wall Street Zen lowered Cogent Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, January 31st. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research note on Thursday, February 19th. 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, Wedbush reissued an "outperform" rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.73.

Cogent Biosciences Stock Down 3.0%

COGT stock opened at $34.79 on Friday. Cogent Biosciences, Inc. has a twelve month low of $4.55 and a twelve month high of $43.73. The company has a market cap of $5.94 billion, a PE ratio of -16.03 and a beta of 0.37. The business's 50-day simple moving average is $36.35 and its 200 day simple moving average is $34.81. The company has a quick ratio of 14.23, a current ratio of 15.14 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts' consensus estimates of ($0.53). On average, research analysts anticipate that Cogent Biosciences, Inc. will post -2.11 earnings per share for the current year.

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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