Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 53.2% during the fourth quarter, Holdings Channel reports. The fund owned 67,381 shares of the technology company’s stock after purchasing an additional 23,404 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Cogent Biosciences were worth $526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP boosted its position in Cogent Biosciences by 184.4% during the fourth quarter. Trexquant Investment LP now owns 277,523 shares of the technology company’s stock worth $2,165,000 after acquiring an additional 179,958 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cogent Biosciences by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,308,509 shares of the technology company’s stock worth $18,011,000 after purchasing an additional 27,716 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cogent Biosciences by 28.3% during the fourth quarter. Franklin Resources Inc. now owns 1,283,673 shares of the technology company’s stock worth $10,013,000 after purchasing an additional 283,506 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Cogent Biosciences by 466.6% in the fourth quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company’s stock valued at $3,627,000 after purchasing an additional 382,882 shares during the period. Finally, NEOS Investment Management LLC increased its stake in Cogent Biosciences by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 51,926 shares of the technology company’s stock valued at $405,000 after purchasing an additional 5,111 shares during the last quarter.

Wall Street Analyst Weigh In

COGT has been the subject of several recent analyst reports. HC Wainwright lowered their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird lowered their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average target price of $14.43.

Cogent Biosciences Trading Up 6.0 %

Shares of COGT stock opened at $4.26 on Friday. The company’s fifty day simple moving average is $6.91 and its 200-day simple moving average is $8.62. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61. The company has a market cap of $485.00 million, a PE ratio of -1.72 and a beta of 1.67.

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.