Geode Capital Management LLC Raises Stake in Cogent Biosciences, Inc. $COGT
Geode Capital Management LLC boosted its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.
Geode Capital Management LLC boosted its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,672,113 shares of the technology company's stock after acquiring an additional 256,259 shares during the period. Geode Capital Management LLC owned 2.35% of Cogent Biosciences worth $19,189,000 as of its most recent SEC filing.
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A number of other large investors have also recently modified their holdings of the business. Strs Ohio purchased a new position in Cogent Biosciences in the 1st quarter worth approximately $36,000. CWM LLC lifted its holdings in shares of Cogent Biosciences by 11,869.9% during the 1st quarter. CWM LLC now owns 8,738 shares of the technology company's stock worth $52,000 after acquiring an additional 8,665 shares during the last quarter. 49 Wealth Management LLC lifted its holdings in shares of Cogent Biosciences by 19.0% during the 2nd quarter. 49 Wealth Management LLC now owns 15,508 shares of the technology company's stock worth $111,000 after acquiring an additional 2,476 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Cogent Biosciences by 37.7% in the first quarter. E Fund Management Co. Ltd. now owns 15,670 shares of the technology company's stock worth $94,000 after acquiring an additional 4,290 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in Cogent Biosciences in the first quarter valued at $101,000.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $30.00 to $44.00 and gave the company an "overweight" rating in a report on Tuesday, October 21st. Robert W. Baird lifted their price target on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Wedbush upgraded shares of Cogent Biosciences from a "neutral" rating to an "outperform" rating and set a $38.00 price objective for the company in a report on Monday, November 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cogent Biosciences in a report on Monday, November 24th. Finally, Leerink Partners lifted their target price on shares of Cogent Biosciences from $18.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.33.
Check Out Our Latest Stock Analysis on COGT
Cogent Biosciences Price Performance
COGT opened at $40.16 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $41.27. The stock has a market capitalization of $5.72 billion, a PE ratio of -24.48 and a beta of 0.49. The stock's 50 day moving average price is $21.44 and its 200-day moving average price is $13.81.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.04. On average, equities research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.
About Cogent Biosciences
(Free Report)Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.
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