UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 17,741 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,604 shares of the technology company’s stock after acquiring an additional 17,741 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of Cogent Biosciences worth $1,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Balyasny Asset Management L.P. raised its holdings in shares of Cogent Biosciences by 8.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company’s stock valued at $162,000 after acquiring an additional 1,687 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,200 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Cogent Biosciences by 15.4% in the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,396 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Cogent Biosciences by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company’s stock valued at $443,000 after acquiring an additional 3,382 shares in the last quarter. Finally, Forefront Analytics LLC raised its holdings in shares of Cogent Biosciences by 37.3% in the fourth quarter. Forefront Analytics LLC now owns 13,760 shares of the technology company’s stock valued at $107,000 after acquiring an additional 3,739 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. HC Wainwright cut their target price on Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th. Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lifted their target price on Cogent Biosciences from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Finally, Piper Sandler upgraded Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $6.90 on Tuesday. Cogent Biosciences, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $12.61. The firm has a market capitalization of $785.61 million, a price-to-earnings ratio of -2.78 and a beta of 1.82. The stock’s 50-day simple moving average is $4.96 and its 200-day simple moving average is $6.96.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. As a group, equities analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

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.