Assenagon Asset Management S.A. Trims Stock Holdings in Cogent Biosciences, Inc. $COGT

Assenagon Asset Management S.A. cut its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 34.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 375,626 shares of the technology company’s stock after selling 201,378 shares during the period. Assenagon Asset Management S.A. owned 0.26% of Cogent Biosciences worth $13,342,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake 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 purchasing an additional 655 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 in the last quarter. CWM LLC grew its stake in Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,126 shares in the last quarter. ProShare Advisors LLC increased its holdings in Cogent Biosciences by 4.5% during the 3rd quarter. ProShare Advisors LLC now owns 27,203 shares of the technology company’s stock worth $391,000 after acquiring an additional 1,182 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after buying an additional 1,333 shares during the period.

Wall Street Analysts Forecast Growth

COGT has been the topic of several recent analyst reports. HC Wainwright raised their price target on Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average price target of $43.45.

Insider Buying and Selling at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 5,503,418 shares of the company’s stock, valued at approximately $200,324,415.20. This trade represents a 38.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.29% of the company’s stock.

Cogent Biosciences Price Performance

Shares of COGT stock opened at $36.10 on Friday. The business’s fifty day moving average is $37.14 and its 200 day moving average is $30.40. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -16.71 and a beta of 0.47. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $43.73.

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

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.