Eventide Asset Management LLC Sells 479,357 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Eventide Asset Management LLC trimmed its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 34.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919,635 shares of the technology company’s stock after selling 479,357 shares during the quarter. Eventide Asset Management LLC’s holdings in Cogent Biosciences were worth $9,932,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cogent Biosciences by 27.1% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cogent Biosciences by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock worth $237,000 after purchasing an additional 4,030 shares during the period. California State Teachers Retirement System raised its position in shares of Cogent Biosciences by 15.8% in the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company’s stock valued at $432,000 after buying an additional 8,804 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Cogent Biosciences in the second quarter valued at approximately $1,077,000.

Cogent Biosciences Trading Down 0.7 %

COGT stock opened at $9.51 on Friday. The firm has a 50-day moving average price of $10.74 and a 200-day moving average price of $9.66. Cogent Biosciences, Inc. has a 12 month low of $3.67 and a 12 month high of $12.61. The stock has a market capitalization of $1.05 billion, a P/E ratio of -3.83 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter last year, the company earned ($0.64) EPS. As a group, equities analysts predict that Cogent Biosciences, Inc. will post -2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COGT has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Needham & Company LLC reduced their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Finally, Citigroup increased their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $14.83.

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.