American International Group Inc. Acquires 2,291 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

American International Group Inc. boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,188 shares of the technology company’s stock after acquiring an additional 2,291 shares during the period. American International Group Inc.’s holdings in Cogent Biosciences were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in shares of Cogent Biosciences by 285.8% during the first quarter. MetLife Investment Management LLC now owns 16,460 shares of the technology company’s stock valued at $123,000 after buying an additional 12,193 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cogent Biosciences by 66.1% during the first quarter. Dimensional Fund Advisors LP now owns 71,423 shares of the technology company’s stock valued at $535,000 after buying an additional 28,422 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Cogent Biosciences during the first quarter valued at about $86,000. State Street Corp lifted its position in shares of Cogent Biosciences by 4.6% during the first quarter. State Street Corp now owns 625,632 shares of the technology company’s stock valued at $4,686,000 after buying an additional 27,624 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Cogent Biosciences during the first quarter valued at about $276,000.

Cogent Biosciences Trading Up 8.1 %

COGT opened at $7.98 on Friday. Cogent Biosciences, Inc. has a 12-month low of $6.48 and a 12-month high of $15.68. The firm has a market capitalization of $687.27 million, a PE ratio of -3.42 and a beta of 1.66. The firm has a 50 day moving average of $9.27 and a two-hundred day moving average of $11.08.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Cogent Biosciences in a research report on Tuesday, September 19th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Cogent Biosciences in a research report on Wednesday, August 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Buy” and a consensus target price of $22.50.

Cogent Biosciences Company Profile

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 exon 17 mutations found within the 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.