Swiss National Bank Has $833,000 Position in Cogent Biosciences, Inc. $COGT

Swiss National Bank raised its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,100 shares of the technology company’s stock after purchasing an additional 20,700 shares during the quarter. Swiss National Bank owned 0.12% of Cogent Biosciences worth $833,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. raised its stake in Cogent Biosciences by 8.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company’s stock valued at $162,000 after purchasing an additional 1,687 shares during the period. Arizona State Retirement System raised its stake in Cogent Biosciences by 18.0% during the 1st quarter. Arizona State Retirement System now owns 20,567 shares of the technology company’s stock valued at $123,000 after purchasing an additional 3,142 shares during the period. MetLife Investment Management LLC increased its stake 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 worth $443,000 after acquiring an additional 3,382 shares during the last quarter. Forefront Analytics LLC increased its stake 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 worth $107,000 after acquiring an additional 3,739 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cogent Biosciences by 7.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company’s stock worth $456,000 after acquiring an additional 3,831 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Leerink Partners upped their price target on shares of Cogent Biosciences from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, July 7th. HC Wainwright dropped their price target on shares of Cogent Biosciences from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Citigroup upped their price target on shares of Cogent Biosciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insider Transactions at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc acquired 2,777,777 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $24,999,993.00. Following the completion of the acquisition, the director owned 9,003,418 shares of the company’s stock, valued at approximately $81,030,762. This trade represents a 44.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.29% of the company’s stock.

Cogent Biosciences Trading Up 3.7%

Shares of NASDAQ:COGT opened at $12.23 on Wednesday. The stock has a market capitalization of $1.39 billion, a PE ratio of -6.87 and a beta of 0.36. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $12.97. The firm has a fifty day moving average price of $10.46 and a 200 day moving average price of $7.59.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. On average, sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal 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.