D. E. Shaw & Co. Inc. Sells 117,240 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

D. E. Shaw & Co. Inc. reduced its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,988 shares of the technology company’s stock after selling 117,240 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.31% of Cogent Biosciences worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. boosted its position in shares of Cogent Biosciences by 8.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company’s stock worth $162,000 after purchasing an additional 1,687 shares during the period. New York State Common Retirement Fund boosted its position in shares of Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after purchasing an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Cogent Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock worth $183,000 after purchasing an additional 2,371 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Cogent Biosciences by 15.4% in the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,396 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Cogent Biosciences by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company’s stock worth $443,000 after purchasing an additional 3,382 shares during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Scotiabank assumed coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Robert W. Baird lowered their target price on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus price target of $14.29.

Cogent Biosciences Stock Up 2.0%

Cogent Biosciences stock opened at $4.98 on Tuesday. The company has a market cap of $567.00 million, a price-to-earnings ratio of -2.01 and a beta of 1.91. The firm’s fifty day moving average is $5.36 and its 200 day moving average is $7.41. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. On average, equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal 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.