Cogent Biosciences, Inc. $COGT Shares Sold by Tema Etfs LLC

Tema Etfs LLC lowered its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 23.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 89,923 shares of the technology company’s stock after selling 27,716 shares during the period. Tema Etfs LLC’s holdings in Cogent Biosciences were worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in Cogent Biosciences by 4.1% during the second quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock worth $187,000 after purchasing an additional 1,020 shares in the last quarter. Corton Capital Inc. lifted its position in shares of Cogent Biosciences by 6.4% during the 2nd quarter. Corton Capital Inc. now owns 17,438 shares of the technology company’s stock valued at $125,000 after acquiring an additional 1,046 shares during the period. CWM LLC boosted its position in Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,126 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after buying an additional 1,333 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,543 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on COGT shares. Wedbush upgraded Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Monday, November 10th. Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, November 10th. HC Wainwright raised their price target on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Transactions at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the transaction, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Edward Robinson sold 90,000 shares of the business’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $38.74, for a total value of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares in the company, valued at $5,423,677.48. This represents a 39.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 237,642 shares of company stock valued at $9,200,345. 7.29% of the stock is currently owned by corporate insiders.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $34.76 on Tuesday. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73. The company has a market cap of $4.95 billion, a P/E ratio of -21.20 and a beta of 0.50. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $35.66 and a two-hundred day moving average of $20.80.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.04. As a group, analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Cogent Biosciences Company Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.