Boothbay Fund Management LLC Cuts Holdings in Cogent Biosciences, Inc. $COGT

Boothbay Fund Management LLC lessened its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 67.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,770 shares of the technology company’s stock after selling 405,630 shares during the period. Boothbay Fund Management LLC owned approximately 0.14% of Cogent Biosciences worth $2,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its holdings in shares of 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 purchasing an additional 1,333 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares in the last quarter. CWM LLC grew its holdings in shares of Cogent Biosciences by 25.3% during 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 period. Strs Ohio acquired a new stake in Cogent Biosciences during the 1st quarter worth approximately $36,000. Finally, Gordian Capital Singapore Pte Ltd increased its position in Cogent Biosciences by 181.3% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 9,000 shares of the technology company’s stock worth $129,000 after purchasing an additional 5,800 shares in the last quarter.

Cogent Biosciences Stock Performance

Shares of COGT opened at $35.68 on Tuesday. The business’s 50 day moving average is $37.35 and its two-hundred day moving average is $29.21. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $43.73. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -16.52 and a beta of 0.47. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). Analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COGT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. HC Wainwright increased their price objective on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.45.

Insider Activity at Cogent Biosciences

In other news, insider John Edward Robinson sold 90,000 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.74, for a total value of $3,486,600.00. Following the completion of the sale, the insider owned 140,002 shares of the company’s stock, valued at approximately $5,423,677.48. The trade was a 39.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica Sachs sold 82,642 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the completion of the sale, the insider owned 133,938 shares in the company, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,737,642 shares of company stock valued at $136,600,345. Insiders own 7.29% of the company’s stock.

Cogent Biosciences Company 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.