201,959 Shares in Cogent Biosciences, Inc. $COGT Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 201,959 shares of the technology company’s stock, valued at approximately $7,773,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairmount Funds Management LLC raised its holdings in shares of Cogent Biosciences by 44.6% in the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after acquiring an additional 2,777,777 shares in the last quarter. Pier Capital LLC bought a new position in Cogent Biosciences during the 4th quarter worth about $1,643,000. Vanguard Group Inc. grew its holdings in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after acquiring an additional 3,756,664 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Cogent Biosciences by 710.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after acquiring an additional 98,602 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new position in Cogent Biosciences during the 3rd quarter valued at about $1,595,000.

Cogent Biosciences Stock Performance

COGT stock opened at $38.48 on Thursday. Cogent Biosciences, Inc. has a one year low of $7.18 and a one year high of $43.73. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -17.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The firm has a 50-day simple moving average of $34.59 and a two-hundred day simple moving average of $36.26.

Cogent Biosciences (NASDAQ:COGT) last issued 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). On average, equities analysts forecast that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COGT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective for the company. HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

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.