Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,228 shares of the technology company’s stock after buying an additional 2,176 shares during the period. Verition Fund Management LLC’s holdings in Cogent Biosciences were worth $337,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COGT. Walleye Capital LLC acquired a new stake in Cogent Biosciences during the 3rd quarter worth about $6,019,000. FMR LLC lifted its holdings in shares of Cogent Biosciences by 8.1% during the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares during the period. Bank of Montreal Can purchased a new stake in Cogent Biosciences in the third quarter valued at approximately $3,135,000. Dynamic Technology Lab Private Ltd acquired a new position in Cogent Biosciences in the 3rd quarter worth approximately $134,000. Finally, Algert Global LLC raised its position in Cogent Biosciences by 14.0% during the 3rd quarter. Algert Global LLC now owns 179,025 shares of the technology company’s stock worth $1,933,000 after buying an additional 21,991 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COGT. Citigroup upped their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating on shares of Cogent Biosciences in a report on Wednesday. Finally, Robert W. Baird boosted their price target on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $8.15 on Friday. Cogent Biosciences, Inc. has a 12 month low of $4.28 and a 12 month high of $12.61. The stock has a market capitalization of $900.25 million, a PE ratio of -3.29 and a beta of 1.70. The business has a 50 day simple moving average of $10.36 and a 200-day simple moving average of $9.77.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period in the prior year, the business posted ($0.64) EPS. On average, equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.4 EPS 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.