Fairmount Funds Management Llc Sells 3,500,000 Shares of Cogent Biosciences (NASDAQ:COGT) Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) Director Fairmount Funds Management Llc sold 3,500,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the completion of the sale, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. The trade was a 38.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cogent Biosciences Trading Down 7.2%

Cogent Biosciences stock opened at $36.68 on Friday. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -22.37 and a beta of 0.50. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $43.73. The firm’s 50 day moving average price is $38.05 and its two-hundred day moving average price is $22.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38.

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

Analyst Ratings Changes

Several brokerages have commented on COGT. HC Wainwright raised their target price on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, Wall Street Zen upgraded Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors have recently modified their holdings of COGT. Osaic Holdings Inc. increased its stake in shares of Cogent Biosciences by 41.4% in the second 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 during the last quarter. Strs Ohio purchased a new position in Cogent Biosciences in the first quarter valued at about $36,000. GAMMA Investing LLC increased its position in Cogent Biosciences by 91.7% in the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after purchasing an additional 655 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Cogent Biosciences by 35.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Cogent Biosciences by 16.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares in the last quarter.

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.