Strs Ohio Reduces Holdings in Cogent Biosciences, Inc. $COGT

Strs Ohio lessened its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 41.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,900 shares of the technology company’s stock after selling 12,600 shares during the quarter. Strs Ohio’s holdings in Cogent Biosciences were worth $689,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in COGT. EverSource Wealth Advisors LLC boosted its stake in Cogent Biosciences by 1,164.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares during the period. Global Retirement Partners LLC acquired a new position in Cogent Biosciences in the fourth quarter valued at $37,000. PNC Financial Services Group Inc. increased its stake in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,032 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cogent Biosciences by 91.7% in the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after buying an additional 655 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 worth $62,000 after buying an additional 1,692 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COGT shares. HC Wainwright raised their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective 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 note on Friday, April 10th. Finally, Jefferies Financial Group began coverage on Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Trading Down 0.1%

NASDAQ:COGT opened at $39.97 on Thursday. The stock has a fifty day moving average price of $34.88 and a two-hundred day moving average price of $36.24. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -18.42 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. Cogent Biosciences, Inc. has a 1 year low of $9.25 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced 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). As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

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.