OMERS ADMINISTRATION Corp Takes $236,000 Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

OMERS ADMINISTRATION Corp purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,300 shares of the technology company’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC grew its holdings in shares of Cogent Biosciences by 124.8% during the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after acquiring an additional 97,541 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Cogent Biosciences by 10.5% during the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,200 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cogent Biosciences by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock worth $700,000 after purchasing an additional 5,720 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Cogent Biosciences in the fourth quarter worth $81,000. Finally, Vanguard Group Inc. boosted its holdings in Cogent Biosciences by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock worth $47,840,000 after purchasing an additional 418,975 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COGT. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Scotiabank began coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Finally, Wedbush reiterated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three investment 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 company. According to data from MarketBeat.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $5.31 on Wednesday. The firm has a market cap of $604.58 million, a price-to-earnings ratio of -2.14 and a beta of 1.91. Cogent Biosciences, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $12.61. The firm has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $7.40.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. As a group, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

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.