ProShare Advisors LLC Increases Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

ProShare Advisors LLC lifted its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,074 shares of the technology company’s stock after buying an additional 7,267 shares during the quarter. ProShare Advisors LLC’s holdings in Cogent Biosciences were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of COGT. Schonfeld Strategic Advisors LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $78,000. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $81,000. KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $88,000. E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $89,000. Finally, Proficio Capital Partners LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $93,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COGT. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday. Scotiabank began coverage on Cogent Biosciences in a research note on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.57.

Cogent Biosciences Trading Down 2.4%

Shares of COGT opened at $5.38 on Friday. The firm has a market cap of $612.55 million, a price-to-earnings ratio of -2.17 and a beta of 1.91. The stock has a 50 day moving average of $4.97 and a 200-day moving average of $7.09. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.04. On average, sell-side analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

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.