Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,516 shares of the technology company’s stock after acquiring an additional 11,383 shares during the period. Rhumbline Advisers owned 0.14% of Cogent Biosciences worth $1,100,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COGT. Russell Investments Group Ltd. grew its holdings in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after buying an additional 7,020 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $70,000. NEOS Investment Management LLC acquired a new stake in Cogent Biosciences during the fourth quarter worth about $76,000. 49 Wealth Management LLC raised its stake in Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after purchasing an additional 2,236 shares during the period. Finally, Forefront Analytics LLC acquired a new position in Cogent Biosciences in the 4th quarter valued at about $117,000.

Cogent Biosciences Trading Up 0.7 %

Shares of NASDAQ COGT opened at $10.98 on Monday. The stock has a market capitalization of $1.05 billion, a PE ratio of -4.43 and a beta of 1.70. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.14. The stock has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $8.32.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on COGT. HC Wainwright cut their price target on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Robert W. Baird raised their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and set a $11.00 price target (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.67.

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.