10,000 Shares in Cogent Biosciences, Inc. (NASDAQ:COGT) Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC bought a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the technology company’s stock, valued at approximately $78,000.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Cogent Biosciences by 99.2% in the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock worth $129,240,000 after purchasing an additional 8,249,845 shares during the period. SG Americas Securities LLC boosted its stake in 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 purchasing an additional 932,179 shares during the period. Springhill Fund Asset Management HK Co Ltd acquired a new position in Cogent Biosciences in the 4th quarter worth approximately $4,279,000. Vanguard Group Inc. boosted its stake in Cogent Biosciences by 7.3% in the 4th 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 during the period. Finally, Alliancebernstein L.P. boosted its stake in Cogent Biosciences by 466.6% in the 4th quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company’s stock worth $3,627,000 after purchasing an additional 382,882 shares during the period.

Analyst Ratings Changes

A number of research firms recently commented on COGT. 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 research note on Wednesday, May 7th. Scotiabank began coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

Cogent Biosciences Stock Down 2.2%

Shares of NASDAQ:COGT opened at $4.88 on Thursday. The firm has a fifty day moving average of $5.51 and a two-hundred day moving average of $7.62. The firm has a market capitalization of $555.62 million, a P/E ratio of -1.97 and a beta of 1.91. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month 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 for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. Equities research analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

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.