Zurcher Kantonalbank Zurich Cantonalbank Buys 7,606 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 67.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,934 shares of the technology company’s stock after buying an additional 7,606 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cogent Biosciences were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Cogent Biosciences by 1,322.5% during the 3rd quarter. FMR LLC now owns 4,569,781 shares of the technology company’s stock valued at $44,555,000 after acquiring an additional 4,248,521 shares in the last quarter. Kynam Capital Management LP boosted its stake in shares of Cogent Biosciences by 36.6% during the third quarter. Kynam Capital Management LP now owns 2,210,125 shares of the technology company’s stock valued at $21,549,000 after purchasing an additional 592,734 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cogent Biosciences by 204.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 592,492 shares of the technology company’s stock worth $5,777,000 after purchasing an additional 397,765 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cogent Biosciences by 203.1% in the fourth quarter. SG Americas Securities LLC now owns 317,409 shares of the technology company’s stock valued at $1,866,000 after buying an additional 212,687 shares during the period. Finally, Trexquant Investment LP bought a new position in Cogent Biosciences in the 3rd quarter valued at approximately $401,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $7.92 on Friday. The business’s 50-day moving average is $6.76 and its 200-day moving average is $6.63. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $13.50. The company has a market capitalization of $757.25 million, a price-to-earnings ratio of -3.19 and a beta of 1.57.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Analysts anticipate that Cogent Biosciences, Inc. will post -1.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on COGT shares. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday. Robert W. Baird restated a “neutral” rating and issued a $8.00 price objective (down from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on Cogent Biosciences from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Wedbush lifted their price objective on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.67.

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 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.