Quest Partners LLC Purchases 14,421 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Quest Partners LLC increased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 136.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,982 shares of the technology company’s stock after purchasing an additional 14,421 shares during the quarter. Quest Partners LLC’s holdings in Cogent Biosciences were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in COGT. Victory Capital Management Inc. purchased a new position in Cogent Biosciences during the third quarter valued at $113,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Cogent Biosciences in the 3rd quarter worth about $232,000. China Universal Asset Management Co. Ltd. lifted its position in Cogent Biosciences by 87.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,051 shares of the technology company’s stock valued at $227,000 after acquiring an additional 9,819 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,104 shares during the period. Finally, Values First Advisors Inc. bought a new stake in Cogent Biosciences during the third quarter worth about $32,000.

Cogent Biosciences Trading Up 4.8 %

Cogent Biosciences stock opened at $9.63 on Wednesday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -3.88 and a beta of 1.72. Cogent Biosciences, Inc. has a 12 month low of $3.67 and a 12 month high of $12.61. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $9.65.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a report on Monday, November 4th. Wedbush reiterated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Robert W. Baird increased 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. lifted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC cut their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

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.