Hennion & Walsh Asset Management Inc. Has $2.15 Million Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 60.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,292 shares of the technology company’s stock after acquiring an additional 103,293 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cogent Biosciences were worth $2,147,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in shares of Cogent Biosciences by 124.5% during the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock worth $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. FMR LLC grew its holdings in shares of Cogent Biosciences by 8.1% during the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in shares of Cogent Biosciences by 144.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock worth $31,564,000 after purchasing an additional 2,209,918 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after purchasing an additional 300,062 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cogent Biosciences by 20.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock worth $8,919,000 after purchasing an additional 139,096 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Monday, January 13th. HC Wainwright reduced 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. Needham & Company LLC cut Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Citigroup upped their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $8.03 on Friday. Cogent Biosciences, Inc. has a 52-week low of $4.28 and a 52-week high of $12.61. The stock’s 50 day moving average price is $8.61 and its two-hundred day moving average price is $9.66. The stock has a market capitalization of $886.99 million, a price-to-earnings ratio of -3.24 and a beta of 1.76.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period in the prior year, the business earned ($0.64) earnings per share. On average, equities research analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current 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.