Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 203.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 317,409 shares of the technology company’s stock after purchasing an additional 212,687 shares during the period. SG Americas Securities LLC owned approximately 0.37% of Cogent Biosciences worth $1,866,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COGT. MetLife Investment Management LLC increased its holdings in shares of Cogent Biosciences by 285.8% in the first quarter. MetLife Investment Management LLC now owns 16,460 shares of the technology company’s stock valued at $123,000 after purchasing an additional 12,193 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Cogent Biosciences by 66.1% in the first quarter. Dimensional Fund Advisors LP now owns 71,423 shares of the technology company’s stock valued at $535,000 after purchasing an additional 28,422 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Cogent Biosciences in the first quarter valued at approximately $86,000. State Street Corp boosted its stake in shares of Cogent Biosciences by 4.6% in the first quarter. State Street Corp now owns 625,632 shares of the technology company’s stock valued at $4,686,000 after buying an additional 27,624 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Cogent Biosciences in the first quarter valued at approximately $276,000.

Cogent Biosciences Stock Performance

COGT opened at $6.52 on Thursday. The business’s fifty day moving average is $6.40 and its two-hundred day moving average is $7.31. The company has a market cap of $677.49 million, a price-to-earnings ratio of -2.72 and a beta of 1.52. Cogent Biosciences, Inc. has a one year low of $3.67 and a one year high of $13.50.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, February 26th. The technology company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.08). On average, analysts predict that Cogent Biosciences, Inc. will post -1.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Cogent Biosciences in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on Cogent Biosciences from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. HC Wainwright decreased their price target on Cogent Biosciences from $27.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, December 15th. Wedbush lifted their price target on Cogent Biosciences from $5.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Citigroup lifted their price target on Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.67.

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.