Cogent Biosciences, Inc. $COGT Shares Purchased by Commodore Capital LP

Commodore Capital LP raised its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 31.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,888,007 shares of the technology company’s stock after acquiring an additional 691,162 shares during the period. Cogent Biosciences makes up 6.4% of Commodore Capital LP’s holdings, making the stock its 4th largest position. Commodore Capital LP’s holdings in Cogent Biosciences were worth $111,159,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Cogent Biosciences by 4.9% in the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after purchasing an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Cogent Biosciences by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after purchasing an additional 300 shares during the last quarter. Optimize Financial Inc lifted its stake in Cogent Biosciences by 1.4% in the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock valued at $1,173,000 after buying an additional 472 shares during the period. Nisa Investment Advisors LLC increased its stake 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 acquiring an additional 488 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Cogent Biosciences by 2.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock valued at $888,000 after acquiring an additional 527 shares during the period.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $39.76 on Monday. The company has a market capitalization of $6.79 billion, a P/E ratio of -18.32 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The business has a 50-day moving average of $35.86 and a two-hundred day moving average of $36.35. Cogent Biosciences, Inc. has a 1 year low of $10.38 and a 1 year high of $43.73.

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). As a group, equities analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COGT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. HC Wainwright upped their target price on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $45.90.

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.