Rhumbline Advisers Has $781,000 Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Rhumbline Advisers boosted its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,458 shares of the technology company’s stock after purchasing an additional 4,877 shares during the quarter. Rhumbline Advisers owned about 0.11% of Cogent Biosciences worth $781,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. FMR LLC lifted its stake in Cogent Biosciences by 99.2% during the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock valued at $129,240,000 after acquiring an additional 8,249,845 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock valued at $47,840,000 after acquiring an additional 418,975 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its stake in Cogent Biosciences by 6.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company’s stock valued at $38,356,000 after acquiring an additional 307,650 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Cogent Biosciences by 5.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company’s stock valued at $33,540,000 after acquiring an additional 233,966 shares in the last quarter. Finally, Octagon Capital Advisors LP lifted its stake in Cogent Biosciences by 111.7% during the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after acquiring an additional 1,458,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COGT. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Robert W. Baird dropped their price objective on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. HC Wainwright dropped their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research note on Tuesday. Finally, Scotiabank started coverage on Cogent Biosciences in a research note on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price on the stock. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.57.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $7.23 on Friday. The stock has a market capitalization of $823.21 million, a price-to-earnings ratio of -3.93 and a beta of 1.82. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $12.61. The business’s fifty day moving average is $5.48 and its 200-day moving average is $6.86.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. Research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

About Cogent Biosciences

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.