Y Intercept Hong Kong Ltd Sells 31,538 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Y Intercept Hong Kong Ltd lessened its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 42.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,499 shares of the technology company's stock after selling 31,538 shares during the period. Y Intercept Hong Kong Ltd's holdings in Cogent Biosciences were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COGT. Janus Henderson Group PLC increased its stake in Cogent Biosciences by 84.3% in the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company's stock valued at $227,000 after purchasing an additional 13,300 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Cogent Biosciences by 78.6% in the fourth quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company's stock valued at $168,000 after purchasing an additional 9,459 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cogent Biosciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company's stock valued at $1,058,000 after purchasing an additional 17,741 shares in the last quarter. ProShare Advisors LLC increased its stake in Cogent Biosciences by 30.5% in the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company's stock valued at $242,000 after purchasing an additional 7,267 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cogent Biosciences by 7.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company's stock worth $456,000 after buying an additional 3,831 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of Cogent Biosciences from $12.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Jefferies Financial Group upped their price objective on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Guggenheim restated a "buy" rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Tuesday, July 8th. Leerink Partners upped their price objective on shares of Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. Finally, Wedbush restated a "neutral" rating and set a $10.00 price objective on shares of Cogent Biosciences in a report on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.70.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were acquired at an average cost of $9.00 per share, with a total value of $24,999,993.00. Following the completion of the purchase, the director directly owned 9,003,418 shares of the company's stock, valued at $81,030,762. This trade represents a 44.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 7.29% of the stock is owned by corporate insiders.

Cogent Biosciences Price Performance

NASDAQ COGT traded down $0.02 during trading on Friday, hitting $11.40. 1,474,464 shares of the company's stock traded hands, compared to its average volume of 4,799,851. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $12.97. The business has a 50 day moving average of $8.49 and a 200-day moving average of $7.23.

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

About Cogent Biosciences

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.