Seven Grand Managers LLC Buys New Position in Cogent Biosciences, Inc. $COGT

Seven Grand Managers LLC bought a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,000 shares of the technology company’s stock, valued at approximately $1,243,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COGT. EverSource Wealth Advisors LLC raised its holdings in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares in the last quarter. Osaic Holdings Inc. raised its holdings 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 bought a new position in shares of Cogent Biosciences during the first quarter valued at approximately $36,000. Global Retirement Partners LLC bought a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Cogent Biosciences by 414.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,032 shares in the last quarter.

Cogent Biosciences Price Performance

COGT opened at $34.51 on Thursday. The stock has a fifty day simple moving average of $35.27 and a two-hundred day simple moving average of $36.57. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.90 billion, a price-to-earnings ratio of -15.90 and a beta of 0.37. Cogent Biosciences, Inc. has a 12-month low of $4.80 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). Research analysts predict that Cogent Biosciences, Inc. will post -2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on COGT. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. HC Wainwright increased their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Tuesday, March 17th. Finally, Jefferies Financial Group assumed coverage on Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences 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.