Assenagon Asset Management S.A. Sells 79,976 Shares of Cogent Biosciences, Inc. $COGT

Assenagon Asset Management S.A. lowered its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 21.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,650 shares of the technology company’s stock after selling 79,976 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cogent Biosciences were worth $11,380,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of COGT. EverSource Wealth Advisors LLC lifted its stake in shares of Cogent Biosciences by 1,164.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter worth $37,000. PNC Financial Services Group Inc. increased its stake in Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after buying an additional 1,032 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cogent Biosciences by 91.7% during the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after acquiring an additional 655 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Cogent Biosciences by 3,845.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the technology company’s stock valued at $62,000 after acquiring an additional 1,692 shares during the period.

Analyst Ratings Changes

A number of research firms have recently weighed in on COGT. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 target price for the company. HC Wainwright lifted their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $38.12 on Friday. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of -17.56 and a beta of 0.34. Cogent Biosciences, Inc. has a 12 month low of $7.07 and a 12 month high of $43.73. The firm’s 50-day moving average is $34.48 and its 200 day moving average is $36.30. 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 (NASDAQ:COGT) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). Research analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

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.