Cogent Biosciences, Inc. $COGT Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 8.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 25,428 shares of the technology company’s stock after selling 2,471 shares during the quarter. Voya Investment Management LLC’s holdings in Cogent Biosciences were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COGT. Ameriprise Financial Inc. raised its stake in shares of Cogent Biosciences by 78.6% during the 4th quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company’s stock valued at $168,000 after buying an additional 9,459 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cogent Biosciences by 15.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company’s stock valued at $1,058,000 after buying an additional 17,741 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Cogent Biosciences by 3.9% during the 1st quarter. Rhumbline Advisers now owns 130,458 shares of the technology company’s stock valued at $781,000 after buying an additional 4,877 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Cogent Biosciences by 9.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 302,481 shares of the technology company’s stock valued at $1,812,000 after buying an additional 27,189 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of 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 buying an additional 3,142 shares during the last quarter.

Insider Buying and Selling

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 shares were 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. The trade was a 44.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COGT. Citigroup lifted their price objective on Cogent Biosciences from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Raymond James Financial began coverage on Cogent Biosciences in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $30.00 price objective for the company. HC Wainwright reduced their price objective on Cogent Biosciences from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group lifted their price target on Cogent Biosciences from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on Cogent Biosciences from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $14.36 on Wednesday. The stock has a market cap of $1.63 billion, a P/E ratio of -8.07 and a beta of 0.35. The stock’s 50 day simple moving average is $12.26 and its 200-day simple moving average is $8.49. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $14.54.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS 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.