Vanguard Group Inc. Acquires 418,975 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Vanguard Group Inc. lifted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,133,380 shares of the technology company’s stock after purchasing an additional 418,975 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Cogent Biosciences worth $47,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Cogent Biosciences during the fourth quarter valued at $88,000. E Fund Management Co. Ltd. purchased a new position in Cogent Biosciences in the fourth quarter worth about $89,000. Proficio Capital Partners LLC purchased a new position in shares of Cogent Biosciences in the fourth quarter worth $93,000. Teacher Retirement System of Texas raised its holdings in shares of Cogent Biosciences by 15.4% during the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Cogent Biosciences during the third quarter valued at approximately $147,000.

Analyst Ratings Changes

A number of analysts recently commented on COGT shares. Scotiabank began coverage on Cogent Biosciences in a research report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, Robert W. Baird dropped their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.43.

Cogent Biosciences Price Performance

COGT stock opened at $4.26 on Friday. The company has a market capitalization of $485.00 million, a price-to-earnings ratio of -1.72 and a beta of 1.67. The business has a 50 day simple moving average of $6.91 and a two-hundred day simple moving average of $8.62. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year 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.