Swiss National Bank Buys 20,700 Shares of Cogent Biosciences, Inc. $COGT

Key Points

• The Swiss National Bank increased its ownership in Cogent Biosciences, Inc. by 17.5%, holding a total of 139,100 shares worth approximately $833,000.
• Several large investors, including Balyasny Asset Management and Arizona State Retirement System, also raised their stakes in Cogent Biosciences during recent quarters.
• Analysts are optimistic about Cogent Biosciences, with price targets set between $18.00 and $30.00, supported by a majority of buy ratings.

Swiss National Bank raised its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 17.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,100 shares of the technology company's stock after purchasing an additional 20,700 shares during the period. Swiss National Bank owned 0.12% of Cogent Biosciences worth $833,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Paradigm Biocapital Advisors LP grew its stake in shares of Cogent Biosciences by 6.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company's stock worth $38,356,000 after buying an additional 307,650 shares during the last quarter. Octagon Capital Advisors LP grew its stake in shares of Cogent Biosciences by 111.7% in the fourth quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company's stock worth $21,551,000 after acquiring an additional 1,458,000 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Cogent Biosciences by 7.7% during the fourth quarter. Northern Trust Corp now owns 912,713 shares of the technology company's stock valued at $7,119,000 after acquiring an additional 65,415 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Cogent Biosciences by 2.1% during the fourth quarter. Woodline Partners LP now owns 613,165 shares of the technology company's stock valued at $4,783,000 after acquiring an additional 12,589 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Cogent Biosciences by 92.3% in the 4th quarter. Algert Global LLC now owns 344,235 shares of the technology company's stock worth $2,685,000 after purchasing an additional 165,210 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of COGT remained flat at $12.08 during trading hours on Monday. The company had a trading volume of 1,060,778 shares, compared to its average volume of 1,205,397. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -6.79 and a beta of 0.35. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $12.97. The firm has a 50 day moving average price of $10.85 and a two-hundred day moving average price of $7.69.

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 (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.02. As a group, analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COGT. HC Wainwright reduced their price objective on shares of Cogent Biosciences from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wedbush reissued a "neutral" rating and set a $10.00 price target on shares of Cogent Biosciences in a research report on Monday, June 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. Citigroup increased their target price on Cogent Biosciences from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Robert W. Baird boosted their price target on Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.00.

Insider Buying and Selling

In other Cogent Biosciences news, Director Fairmount Funds Management Llc purchased 2,777,777 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were acquired at an average cost of $9.00 per share, for a total transaction of $24,999,993.00. Following the completion of the transaction, the director owned 9,003,418 shares of the company's stock, valued at approximately $81,030,762. The trade was a 44.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.29% of the company's stock.

Cogent Biosciences 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.