Voya Investment Management LLC Sells 2,333 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Voya Investment Management LLC lowered its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 27,899 shares of the technology company’s stock after selling 2,333 shares during the period. Voya Investment Management LLC’s holdings in Cogent Biosciences were worth $218,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in Cogent Biosciences by 99.2% during the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock valued at $129,240,000 after buying an additional 8,249,845 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cogent Biosciences by 2,865.3% in the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock worth $7,525,000 after acquiring an additional 932,179 shares in the last quarter. Springhill Fund Asset Management HK Co Ltd bought a new stake in Cogent Biosciences during the 4th quarter valued at about $4,279,000. Vanguard Group Inc. increased its stake in Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock valued at $47,840,000 after purchasing an additional 418,975 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Cogent Biosciences by 466.6% during the 4th quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company’s stock valued at $3,627,000 after acquiring an additional 382,882 shares during the last quarter.

Cogent Biosciences Stock Down 2.7%

Shares of NASDAQ COGT opened at $4.99 on Wednesday. The firm has a market cap of $568.14 million, a P/E ratio of -2.01 and a beta of 1.91. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61. The business’s 50 day moving average price is $5.55 and its 200 day moving average price is $7.64.

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

Analyst Ratings Changes

COGT has been the topic of several analyst reports. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Robert W. Baird dropped their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. HC Wainwright lowered their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Scotiabank began coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price for the company. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

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.