Two Sigma Advisers LP Sells 137,175 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Two Sigma Advisers LP decreased its position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 87.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,915 shares of the technology company's stock after selling 137,175 shares during the period. Two Sigma Advisers LP's holdings in Cogent Biosciences were worth $148,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Cogent Biosciences by 99.2% during the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock worth $129,240,000 after acquiring an additional 8,249,845 shares in the last quarter. Octagon Capital Advisors LP lifted its holdings in shares of Cogent Biosciences by 111.7% during the 4th 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. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Cogent Biosciences during the 4th quarter valued at about $4,279,000. Vanguard Group Inc. lifted its holdings in shares of Cogent Biosciences by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock worth $47,840,000 after acquiring an additional 418,975 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Cogent Biosciences by 466.6% during the fourth quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company's stock valued at $3,627,000 after buying an additional 382,882 shares during the period.

Cogent Biosciences Stock Up 1.5%

Shares of NASDAQ:COGT traded up $0.10 during midday trading on Monday, reaching $6.90. The company's stock had a trading volume of 2,202,467 shares, compared to its average volume of 1,289,425. The firm has a 50 day moving average of $4.94 and a 200-day moving average of $6.97. The firm has a market capitalization of $785.61 million, a P/E ratio of -2.78 and a beta of 1.82. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. On average, research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COGT shares. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Robert W. Baird reduced their price target on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. HC Wainwright cut their price objective on Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Finally, Wedbush restated a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cogent Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $14.57.

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.