Cogent Biosciences, Inc. $COGT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 30.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,279 shares of the technology company’s stock after selling 17,138 shares during the period. Intech Investment Management LLC’s holdings in Cogent Biosciences were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in COGT. Osaic Holdings Inc. grew its stake in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares in the last quarter. Strs Ohio acquired a new position in shares of Cogent Biosciences in the first quarter worth about $36,000. Ameritas Investment Partners Inc. boosted its holdings in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cogent Biosciences by 22.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the last quarter. Finally, CWM LLC grew its stake in Cogent Biosciences by 25.3% during the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 shares in the last quarter.

Insider Buying and Selling

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the firm’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 sale, the insider directly owned 140,002 shares in the company, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica Sachs sold 82,642 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the transaction, the insider directly owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,737,642 shares of company stock valued at $136,600,345 in the last 90 days. Corporate insiders own 7.29% of the company’s stock.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $36.08 on Thursday. The company has a market cap of $5.86 billion, a P/E ratio of -16.70 and a beta of 0.47. The business has a 50 day moving average of $37.34 and a two-hundred day moving average of $28.61. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41.

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). As a group, analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on COGT. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Wednesday, January 21st. HC Wainwright lifted their price target on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler upped their price target on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.82.

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.