Y Intercept Hong Kong Ltd Has $834,000 Position in Cogent Biosciences, Inc. $COGT

Y Intercept Hong Kong Ltd grew its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 167.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,127 shares of the technology company’s stock after purchasing an additional 72,628 shares during the period. Y Intercept Hong Kong Ltd owned about 0.10% of Cogent Biosciences worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in COGT. Arizona State Retirement System boosted its stake in shares of Cogent Biosciences by 18.0% in 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 in the last quarter. CWM LLC boosted its position in Cogent Biosciences by 11,869.9% during the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after buying an additional 8,665 shares during the period. Swiss National Bank grew its holdings in Cogent Biosciences by 17.5% during the 1st quarter. Swiss National Bank now owns 139,100 shares of the technology company’s stock worth $833,000 after acquiring an additional 20,700 shares during the last quarter. Invesco Ltd. grew its holdings in Cogent Biosciences by 77.9% during the 1st quarter. Invesco Ltd. now owns 68,743 shares of the technology company’s stock worth $412,000 after acquiring an additional 30,102 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Cogent Biosciences during the 1st quarter worth approximately $1,401,000.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $14.13 on Wednesday. The company has a market capitalization of $1.61 billion, a P/E ratio of -7.94 and a beta of 0.41. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $17.15. The company’s 50 day moving average price is $14.25 and its 200-day moving average price is $10.32.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results 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. Analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COGT. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Guggenheim boosted their target price on shares of Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Robert W. Baird boosted their target price on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Cogent Biosciences in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.83.

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.