Squarepoint Ops LLC Purchases Shares of 101,518 Cogent Biosciences, Inc. $COGT

Squarepoint Ops LLC acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 101,518 shares of the technology company’s stock, valued at approximately $729,000. Squarepoint Ops LLC owned approximately 0.09% of Cogent Biosciences at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Paradigm Biocapital Advisors LP increased its holdings in Cogent Biosciences by 82.3% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 8,963,655 shares of the technology company’s stock valued at $53,692,000 after purchasing an additional 4,046,243 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Cogent Biosciences in the first quarter valued at about $17,970,000. Emerald Advisers LLC acquired a new position in Cogent Biosciences during the 2nd quarter worth about $10,381,000. Woodline Partners LP lifted its position in Cogent Biosciences by 175.2% during the 1st quarter. Woodline Partners LP now owns 1,687,540 shares of the technology company’s stock worth $10,108,000 after buying an additional 1,074,375 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Cogent Biosciences during the 2nd quarter worth about $6,429,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COGT. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Cogent Biosciences in a research report on Monday, December 8th. Leerink Partners increased their price objective on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. upped their price target on Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.82.

Cogent Biosciences Price Performance

Shares of COGT opened at $40.17 on Wednesday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. The stock has a market cap of $5.72 billion, a P/E ratio of -24.49 and a beta of 0.50. The stock’s 50-day moving average price is $29.89 and its two-hundred day moving average price is $17.92. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.04. On average, equities analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Cogent Biosciences Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.