Charles Schwab Investment Management Inc. Purchases 7,362 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 833,155 shares of the technology company’s stock after buying an additional 7,362 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cogent Biosciences were worth $6,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $93,000. Victory Capital Management Inc. purchased a new stake in Cogent Biosciences in the third quarter valued at approximately $113,000. Dynamic Technology Lab Private Ltd bought a new stake in Cogent Biosciences during the third quarter valued at approximately $134,000. Virtu Financial LLC purchased a new position in Cogent Biosciences in the 3rd quarter worth approximately $147,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Cogent Biosciences by 10.5% in the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after buying an additional 2,200 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush restated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, February 25th. HC Wainwright lowered their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Scotiabank started coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.43.

Cogent Biosciences Stock Up 3.4 %

NASDAQ:COGT opened at $7.40 on Tuesday. The firm has a market capitalization of $842.49 million, a P/E ratio of -2.98 and a beta of 1.80. The company has a fifty day moving average of $7.97 and a 200 day moving average of $9.21. Cogent Biosciences, Inc. has a 52 week low of $5.73 and a 52 week high of $12.61.

Cogent Biosciences Company 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.