Kennedy Capital Management LLC Has $4.74 Million Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Kennedy Capital Management LLC grew its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 120.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 705,631 shares of the technology company’s stock after buying an additional 385,315 shares during the period. Kennedy Capital Management LLC owned 0.74% of Cogent Biosciences worth $4,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kynam Capital Management LP boosted its holdings in Cogent Biosciences by 45.2% in the first quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock valued at $57,120,000 after acquiring an additional 2,645,234 shares during the last quarter. Redmile Group LLC boosted its stake in Cogent Biosciences by 36.0% in the first quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock valued at $26,629,000 after acquiring an additional 1,048,580 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Cogent Biosciences by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock worth $237,000 after acquiring an additional 4,030 shares during the period. Vanguard Group Inc. grew its stake in shares of Cogent Biosciences by 27.1% during the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after purchasing an additional 1,231,050 shares during the period. Finally, Entropy Technologies LP bought a new stake in Cogent Biosciences in the first quarter valued at about $213,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush restated a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a research report on Friday, May 24th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Trading Up 1.2 %

Shares of NASDAQ:COGT traded up $0.11 during trading on Tuesday, hitting $9.50. 561,794 shares of the company’s stock traded hands, compared to its average volume of 1,641,249. The company has a 50-day moving average price of $8.61 and a 200-day moving average price of $7.29. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $13.36. The company has a market cap of $908.30 million, a price-to-earnings ratio of -3.81 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). On average, analysts predict that Cogent Biosciences, Inc. will post -2.19 earnings per share for the current fiscal year.

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.