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

SG Americas Securities LLC lifted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 2,865.3% in the fourth quarter, Holdings Channel reports. The firm owned 964,712 shares of the technology company’s stock after acquiring an additional 932,179 shares during the period. SG Americas Securities LLC’s holdings in Cogent Biosciences were worth $7,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in COGT. Barclays PLC lifted its stake in Cogent Biosciences by 124.8% in the third quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after buying an additional 97,541 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cogent Biosciences by 20.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after acquiring an additional 139,096 shares during the period. Deerfield Management Company L.P. Series C raised its position in Cogent Biosciences by 144.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after purchasing an additional 2,209,918 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Cogent Biosciences by 14.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,752 shares of the technology company’s stock worth $301,000 after purchasing an additional 4,528 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Cogent Biosciences by 56.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,470,398 shares of the technology company’s stock worth $88,265,000 after purchasing an additional 3,794,150 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have commented on COGT shares. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, HC Wainwright dropped their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $14.33.

Cogent Biosciences Price Performance

COGT opened at $8.89 on Friday. Cogent Biosciences, Inc. has a 12 month low of $4.28 and a 12 month high of $12.61. The business has a 50 day simple moving average of $8.46 and a 200-day simple moving average of $9.66.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the firm posted ($0.64) earnings per share. On average, equities research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS 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.