Readystate Asset Management LP Takes $714,000 Position in Cogent Biosciences, Inc. $COGT

Readystate Asset Management LP bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 49,692 shares of the technology company’s stock, valued at approximately $714,000.

A number of other large investors have also recently added to or reduced their stakes in COGT. Emerald Advisers LLC bought a new position in shares of Cogent Biosciences in the second quarter valued at $10,381,000. Vanguard Group Inc. grew its holdings in shares of Cogent Biosciences by 18.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock worth $111,400,000 after acquiring an additional 1,234,711 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Cogent Biosciences during the second quarter worth $6,429,000. Saturn V Capital Management LP lifted its holdings in shares of Cogent Biosciences by 55.2% during the second quarter. Saturn V Capital Management LP now owns 2,297,524 shares of the technology company’s stock valued at $16,496,000 after purchasing an additional 817,504 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its position in shares of Cogent Biosciences by 96.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,655,689 shares of the technology company’s stock valued at $11,888,000 after purchasing an additional 812,200 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on COGT shares. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a report on Friday, December 19th. HC Wainwright raised their price objective on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Cogent Biosciences in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.58.

Insider Transactions at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the sale, the insider owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. The trade was a 37.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares in the company, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,737,642 shares of company stock valued at $136,600,345 over the last 90 days. Company insiders own 7.29% of the company’s stock.

Cogent Biosciences Stock Up 1.9%

Cogent Biosciences stock opened at $38.35 on Thursday. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $43.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38. The firm has a market cap of $5.46 billion, a PE ratio of -17.75 and a beta of 0.45. The firm’s 50 day moving average price is $37.75 and its two-hundred day moving average price is $25.85.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

About Cogent Biosciences

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.