Cornercap Investment Counsel Inc. Takes Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Cornercap Investment Counsel Inc. purchased a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 34,328 shares of the technology company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Cogent Biosciences by 1,322.5% during the third quarter. FMR LLC now owns 4,569,781 shares of the technology company’s stock worth $44,555,000 after buying an additional 4,248,521 shares during the period. SG Americas Securities LLC raised its position in shares of Cogent Biosciences by 203.1% during the 4th quarter. SG Americas Securities LLC now owns 317,409 shares of the technology company’s stock worth $1,866,000 after buying an additional 212,687 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Cogent Biosciences in the 3rd quarter worth approximately $401,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cogent Biosciences by 204.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 592,492 shares of the technology company’s stock valued at $5,777,000 after acquiring an additional 397,765 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Cogent Biosciences by 3.2% during the third quarter. Citigroup Inc. now owns 82,241 shares of the technology company’s stock valued at $802,000 after acquiring an additional 2,522 shares during the period.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $6.53 on Thursday. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $13.50. The stock’s 50-day moving average price is $6.97 and its two-hundred day moving average price is $6.89.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, February 26th. The technology company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.08). As a group, equities analysts expect that Cogent Biosciences, Inc. will post -1.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COGT has been the subject of a number of research analyst reports. Citigroup upped their target price on Cogent Biosciences from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cogent Biosciences in a research note on Thursday, February 22nd. Robert W. Baird reiterated a “neutral” rating and issued a $8.00 target price (down from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

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.