Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New $231,000 Investment in Cogent Biosciences, Inc. $COGT

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,098 shares of the technology company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cogent Biosciences by 22.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,003 shares during the period. ProShare Advisors LLC boosted its stake in Cogent Biosciences by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock valued at $187,000 after purchasing an additional 1,020 shares during the period. CWM LLC grew its position in Cogent Biosciences by 25.3% in the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,126 shares during the last quarter. 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 valued at $33,000 after purchasing an additional 1,333 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,543 shares during the period.

Cogent Biosciences Trading Down 3.8%

NASDAQ:COGT opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73. The stock’s 50 day moving average price is $37.32 and its 200 day moving average price is $28.81. The company has a market capitalization of $5.52 billion, a P/E ratio of -15.74 and a beta of 0.47.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, research analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares in the company, valued at $5,423,677.48. This represents a 39.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the transaction, the insider owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. This trade represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,737,642 shares of company stock worth $136,600,345 in the last 90 days. Insiders own 7.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on COGT shares. JPMorgan Chase & Co. raised their target price on Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Finally, HC Wainwright increased their price objective on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average target price of $42.82.

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.