E Fund Management Co. Ltd. Acquires New Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

E Fund Management Co. Ltd. purchased a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,411 shares of the technology company’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COGT. AJOVista LLC purchased a new position in Cogent Biosciences during the fourth quarter valued at approximately $45,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cogent Biosciences by 355.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,772 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Cogent Biosciences in the 3rd quarter worth $99,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cogent Biosciences by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock worth $110,000 after purchasing an additional 2,571 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Cogent Biosciences by 42.9% in the third quarter. Arizona State Retirement System now owns 15,446 shares of the technology company’s stock valued at $151,000 after purchasing an additional 4,640 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush lifted their price objective on shares of Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Leerink Partnrs restated an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Robert W. Baird reissued a “neutral” rating and issued a $8.00 target price (down from $14.00) on shares of Cogent Biosciences in a research report on Monday, February 26th. Citigroup lifted their price target on Cogent Biosciences from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.67.

Cogent Biosciences Stock Performance

COGT stock remained flat at $7.92 during trading on Friday. The company had a trading volume of 21,444 shares, compared to its average volume of 1,928,701. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $13.50. The stock’s 50-day moving average is $6.76 and its 200-day moving average is $6.63. The firm has a market capitalization of $757.25 million, a P/E ratio of -3.19 and a beta of 1.57.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Research analysts predict that Cogent Biosciences, Inc. will post -1.89 earnings per share for the current 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.