Stock Traders Buy High Volume of Cogent Biosciences Put Options (NASDAQ:COGT)

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders acquired 5,420 put options on the stock. This represents an increase of 321% compared to the typical volume of 1,287 put options.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday. Leerink Partners raised their price target on shares of Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Monday. Guggenheim reissued a "buy" rating and issued a $17.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Finally, Wedbush reiterated a "neutral" rating and issued a $10.00 price target on shares of Cogent Biosciences in a research note on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.00.

Institutional Trading of Cogent Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in shares of Cogent Biosciences by 8.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company's stock valued at $162,000 after buying an additional 1,687 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Cogent Biosciences by 15.4% during the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock valued at $140,000 after buying an additional 2,396 shares during the period. Arizona State Retirement System lifted its position in shares of Cogent Biosciences by 18.0% during the first quarter. Arizona State Retirement System now owns 20,567 shares of the technology company's stock valued at $123,000 after buying an additional 3,142 shares during the last quarter. MetLife Investment Management LLC raised its stake in Cogent Biosciences by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company's stock valued at $443,000 after buying an additional 3,382 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cogent Biosciences by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company's stock worth $377,000 after acquiring an additional 3,693 shares during the period.

Cogent Biosciences Stock Up 4.3%

COGT stock traded up $0.45 during trading on Thursday, reaching $10.85. The stock had a trading volume of 6,140,974 shares, compared to its average volume of 1,559,930. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.90 and a beta of 1.88. The company's 50 day moving average is $6.33 and its two-hundred day moving average is $6.79. Cogent Biosciences has a one year low of $3.72 and a one year high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data 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. As a group, research analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current fiscal 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.