Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Holdings Boosted by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 87.4% during the third quarter, Holdings Channel reports. The fund owned 21,051 shares of the technology company’s stock after purchasing an additional 9,819 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cogent Biosciences were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Cogent Biosciences during the third quarter valued at approximately $32,000. Assenagon Asset Management S.A. boosted its position in shares of Cogent Biosciences by 1.1% during the third quarter. Assenagon Asset Management S.A. now owns 607,208 shares of the technology company’s stock worth $6,558,000 after buying an additional 6,444 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Cogent Biosciences by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 171,999 shares of the technology company’s stock worth $1,858,000 after buying an additional 44,287 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Cogent Biosciences in the 3rd quarter valued at approximately $76,000.

Cogent Biosciences Trading Up 0.1 %

Shares of NASDAQ COGT opened at $12.01 on Thursday. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.61. The firm has a 50-day moving average of $11.01 and a two-hundred day moving average of $9.24. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -4.84 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter last year, the business earned ($0.59) EPS. As a group, research analysts predict that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COGT. HC Wainwright reduced their price target on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. Robert W. Baird increased their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Cogent Biosciences in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

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.