Emerald Advisers LLC Increases Stock Position in Cogent Biosciences, Inc. $COGT

Emerald Advisers LLC grew its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,579,496 shares of the technology company’s stock after buying an additional 133,722 shares during the period. Emerald Advisers LLC owned 1.39% of Cogent Biosciences worth $22,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Campbell & CO Investment Adviser LLC purchased a new position in Cogent Biosciences during the 3rd quarter valued at about $885,000. SG Americas Securities LLC bought a new position in shares of Cogent Biosciences during the third quarter valued at approximately $372,000. CWM LLC lifted its holdings in shares of Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Cogent Biosciences by 110.0% in the 3rd quarter. Voya Investment Management LLC now owns 61,623 shares of the technology company’s stock worth $885,000 after purchasing an additional 32,279 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Cogent Biosciences by 193.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 577,004 shares of the technology company’s stock worth $8,286,000 after buying an additional 380,345 shares during the last quarter.

Cogent Biosciences Price Performance

COGT opened at $39.90 on Thursday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of -24.33 and a beta of 0.50. The firm has a 50 day moving average price of $37.87 and a 200-day moving average price of $22.23. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $43.73. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. Equities research analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on COGT. Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, November 10th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Robert W. Baird increased their price target on shares of Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Insider Buying and Selling

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.74, for a total value of $3,486,600.00. Following the transaction, the insider directly owned 140,002 shares of the company’s stock, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $3,198,245.40. Following the sale, the insider owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 237,642 shares of company stock valued at $9,200,345 over the last 90 days. Company insiders own 7.29% of the company’s stock.

About Cogent Biosciences

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.