Legato Capital Management LLC Makes New Investment in Cogent Biosciences, Inc. $COGT

Legato Capital Management LLC acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 32,740 shares of the technology company’s stock, valued at approximately $1,163,000.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences during the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. lifted its position in Cogent Biosciences by 414.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares during the period. GAMMA Investing LLC lifted its position in Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after acquiring an additional 655 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after buying an additional 488 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings 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 valued at $33,000 after buying an additional 1,333 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently commented on COGT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Tuesday, March 17th. Jefferies Financial Group started coverage on Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, HC Wainwright raised their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two 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 given a Sell rating to the stock. According to MarketBeat.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $32.67 on Monday. Cogent Biosciences, Inc. has a 1-year low of $4.75 and a 1-year high of $43.73. The company has a market capitalization of $5.58 billion, a P/E ratio of -15.06 and a beta of 0.37. The business has a 50 day moving average price of $35.34 and a 200 day moving average price of $36.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, meeting the consensus estimate of ($0.53). Sell-side analysts expect that Cogent Biosciences, Inc. will post -2.23 EPS for the current fiscal 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.