Atika Capital Management LLC Sells 212,800 Shares of Cogent Biosciences, Inc. $COGT

Atika Capital Management LLC lowered its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 42.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,200 shares of the technology company’s stock after selling 212,800 shares during the quarter. Cogent Biosciences accounts for 1.4% of Atika Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Atika Capital Management LLC owned about 0.17% of Cogent Biosciences worth $11,285,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of COGT. EverSource Wealth Advisors LLC boosted its stake in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after purchasing an additional 652 shares during the period. Osaic Holdings Inc. grew its stake in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,333 shares in the last quarter. Strs Ohio bought a new position in Cogent Biosciences in the 1st quarter worth about $36,000. Global Retirement Partners LLC purchased a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $37,000. Finally, Parallel Advisors LLC purchased a new position in shares of Cogent Biosciences during the first quarter worth approximately $39,000.

Analyst Ratings Changes

COGT has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, HC Wainwright increased their target price on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.90.

Cogent Biosciences Trading Up 1.8%

NASDAQ:COGT opened at $40.24 on Friday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -18.54 and a beta of 0.34. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $35.71 and a 200 day moving average of $36.31.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.53). As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

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.