272,460 Shares in Cogent Biosciences, Inc. $COGT Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 272,460 shares of the technology company’s stock, valued at approximately $3,913,000. Principal Financial Group Inc. owned approximately 0.24% of Cogent Biosciences as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake 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 acquiring an additional 1,333 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares in the last quarter. CWM LLC raised its position in Cogent Biosciences by 25.3% in the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 shares during the period. Strs Ohio acquired a new position in shares of Cogent Biosciences during the first quarter worth about $36,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after buying an additional 1,543 shares during the period.

Wall Street Analyst Weigh In

COGT has been the topic of several analyst reports. Leerink Partners raised their target price on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. HC Wainwright raised their price target on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, UBS Group raised shares of Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

Insider Activity at Cogent Biosciences

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the sale, the insider owned 140,002 shares in the company, valued at $5,423,677.48. This represents a 39.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total value of $127,400,000.00. Following the completion of the transaction, the director owned 5,503,418 shares of the company’s stock, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,737,642 shares of company stock worth $136,600,345. 7.29% of the stock is currently owned by company insiders.

Cogent Biosciences Trading Down 0.5%

COGT opened at $36.53 on Monday. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $43.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market capitalization of $5.20 billion, a PE ratio of -22.27 and a beta of 0.45. The firm’s fifty day moving average price is $37.86 and its 200 day moving average price is $25.40.

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.