Exome Asset Management LLC Cuts Stock Position in Cogent Biosciences, Inc. $COGT

Exome Asset Management LLC trimmed its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,533 shares of the technology company’s stock after selling 27,035 shares during the quarter. Cogent Biosciences accounts for approximately 5.5% of Exome Asset Management LLC’s holdings, making the stock its 2nd biggest holding. Exome Asset Management LLC’s holdings in Cogent Biosciences were worth $10,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COGT. EverSource Wealth Advisors LLC grew its holdings in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares during the last quarter. Osaic Holdings Inc. raised 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 during the last quarter. Strs Ohio purchased a new stake in shares of Cogent Biosciences during the first quarter worth about $36,000. Global Retirement Partners LLC purchased a new stake in shares of Cogent Biosciences during the fourth quarter worth about $37,000. Finally, Parallel Advisors LLC bought a new stake in shares of Cogent Biosciences in the first quarter worth about $39,000.

Cogent Biosciences Stock Up 1.7%

Cogent Biosciences stock opened at $40.44 on Tuesday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -18.64 and a beta of 0.34. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 12 month low of $10.38 and a 12 month high of $43.73. The stock has a fifty day simple moving average of $36.04 and a two-hundred day simple moving average of $36.39.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting the consensus estimate of ($0.53). Equities analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on COGT shares. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, HC Wainwright boosted their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $45.90.

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.