Algert Global LLC Grows Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Algert Global LLC grew its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,025 shares of the technology company’s stock after acquiring an additional 21,991 shares during the period. Algert Global LLC owned about 0.16% of Cogent Biosciences worth $1,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asset Management L.P. increased its holdings in Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cogent Biosciences by 27.1% in the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after buying an additional 1,231,050 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of Cogent Biosciences by 144.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after buying an additional 2,209,918 shares during the period. Sofinnova Investments Inc. boosted its holdings in Cogent Biosciences by 15.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock worth $23,379,000 after acquiring an additional 372,515 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Cogent Biosciences by 12,785.8% in the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock valued at $14,097,000 after purchasing an additional 2,083,065 shares during the period.

Cogent Biosciences Trading Down 0.5 %

Shares of COGT opened at $9.58 on Thursday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -3.87 and a beta of 1.72. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $12.61. The stock has a 50 day moving average of $10.78 and a 200-day moving average of $9.66.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a report on Monday, November 4th. Citigroup lifted their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reduced their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Robert W. Baird lifted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.