Assetmark Inc. Takes $731,000 Position in Cogent Biosciences, Inc. $COGT

Assetmark Inc. purchased a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,987 shares of the technology company’s stock, valued at approximately $731,000.

Several other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the period. Global Retirement Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter worth approximately $37,000. Summit Securities Group LLC acquired a new stake in shares of Cogent Biosciences during the 1st quarter valued at $46,000. PNC Financial Services Group Inc. boosted its stake in shares of Cogent Biosciences by 414.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after buying an additional 1,032 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after acquiring an additional 655 shares in the last quarter.

Cogent Biosciences Trading Down 1.2%

Cogent Biosciences stock opened at $39.76 on Friday. Cogent Biosciences, Inc. has a one year low of $10.38 and a one year high of $43.73. The company’s fifty day moving average price is $35.86 and its two-hundred day moving average price is $36.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -18.32 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). On average, analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. 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 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, HC Wainwright raised their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $45.90.

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.