Mirae Asset Global Investments Co. Ltd. Acquires 12,293 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 34.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 48,467 shares of the technology company’s stock after buying an additional 12,293 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Cogent Biosciences worth $285,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COGT. China Universal Asset Management Co. Ltd. increased its holdings in Cogent Biosciences by 355.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock worth $59,000 after buying an additional 7,772 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Cogent Biosciences in the 3rd quarter worth about $99,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cogent Biosciences by 29.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock worth $110,000 after buying an additional 2,571 shares in the last quarter. Arizona State Retirement System increased its holdings in Cogent Biosciences by 42.9% in the 3rd quarter. Arizona State Retirement System now owns 15,446 shares of the technology company’s stock worth $151,000 after buying an additional 4,640 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new stake in Cogent Biosciences in the 3rd quarter worth about $169,000.

Cogent Biosciences Stock Up 0.2 %

COGT stock opened at $6.02 on Friday. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $13.50. The stock has a market cap of $575.57 million, a P/E ratio of -2.51 and a beta of 1.50. The business’s 50-day moving average price is $6.88 and its 200-day moving average price is $6.74.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Monday, February 26th. The technology company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). On average, equities research analysts expect that Cogent Biosciences, Inc. will post -1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Citigroup raised their target price on Cogent Biosciences from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a research report on Monday, February 26th. Robert W. Baird reissued a “neutral” rating and issued a $8.00 target price (down from $14.00) on shares of Cogent Biosciences in a research report on Monday, February 26th. Finally, Wedbush raised their target price on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.67.

Cogent Biosciences 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 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.