Tema Etfs LLC Invests $405,000 in Cogent Biosciences, Inc. (NASDAQ:COGT)

Tema Etfs LLC bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 51,926 shares of the technology company's stock, valued at approximately $405,000.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its position in Cogent Biosciences by 124.8% during the third quarter. Barclays PLC now owns 175,684 shares of the technology company's stock worth $1,897,000 after acquiring an additional 97,541 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company's stock worth $700,000 after purchasing an additional 5,720 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cogent Biosciences by 2,865.3% during the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company's stock worth $7,525,000 after purchasing an additional 932,179 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Cogent Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company's stock valued at $183,000 after buying an additional 2,371 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock valued at $180,000 after buying an additional 2,200 shares during the period.

Cogent Biosciences Stock Performance

Shares of COGT traded down $0.03 during mid-day trading on Thursday, reaching $4.95. The company had a trading volume of 1,758,674 shares, compared to its average volume of 1,262,235. The company's 50 day simple moving average is $5.28 and its 200 day simple moving average is $7.38. The company has a market capitalization of $563.59 million, a price-to-earnings ratio of -2.00 and a beta of 1.91. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.04. As a group, equities analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COGT. Scotiabank assumed coverage on Cogent Biosciences in a report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price objective for the company. Robert W. Baird cut their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Wedbush reaffirmed a "neutral" rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, Piper Sandler raised shares of Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

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.