Rhumbline Advisers Buys 20,195 Shares of Cogent Biosciences, Inc. $COGT

Rhumbline Advisers raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,712 shares of the technology company’s stock after acquiring an additional 20,195 shares during the quarter. Rhumbline Advisers owned about 0.16% of Cogent Biosciences worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of COGT. Vestal Point Capital LP grew its stake in shares of Cogent Biosciences by 2.7% during the second quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company’s stock valued at $22,114,000 after purchasing an additional 80,000 shares during the last quarter. Geode Capital Management LLC boosted its position in Cogent Biosciences by 10.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,672,113 shares of the technology company’s stock valued at $19,189,000 after buying an additional 256,259 shares during the last quarter. Saturn V Capital Management LP increased its stake in shares of Cogent Biosciences by 55.2% in the 2nd quarter. Saturn V Capital Management LP now owns 2,297,524 shares of the technology company’s stock valued at $16,496,000 after buying an additional 817,504 shares during the period. Frazier Life Sciences Management L.P. increased its stake in shares of Cogent Biosciences by 85.2% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,734,601 shares of the technology company’s stock valued at $12,454,000 after buying an additional 798,025 shares during the period. Finally, Nantahala Capital Management LLC raised its position in shares of Cogent Biosciences by 96.3% during the second quarter. Nantahala Capital Management LLC now owns 1,655,689 shares of the technology company’s stock worth $11,888,000 after acquiring an additional 812,200 shares during the last quarter.

Cogent Biosciences Stock Down 1.3%

Shares of NASDAQ:COGT opened at $39.46 on Friday. The company has a 50 day moving average price of $37.58 and a two-hundred day moving average price of $26.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The company has a market capitalization of $6.40 billion, a PE ratio of -18.27 and a beta of 0.45. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). Analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COGT. Leerink Partners raised their price target on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. HC Wainwright raised their target price on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, November 10th. Robert W. Baird set a $35.00 price objective on shares of Cogent Biosciences in a report on Thursday, February 19th. Finally, Piper Sandler lifted their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Insiders Place Their Bets

In other news, insider Evan Kearns sold 65,000 shares of Cogent Biosciences stock in a transaction dated Friday, December 26th. The stock was 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. The trade was a 37.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the business’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 value of $3,198,245.40. Following the completion of the transaction, the insider owned 133,938 shares of the company’s stock, valued at $5,183,400.60. This represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. Insiders own 7.29% of the company’s stock.

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.