Rafferty Asset Management LLC Grows Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Rafferty Asset Management LLC raised its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 41.5% in the 4th quarter, HoldingsChannel reports. The fund owned 160,873 shares of the technology company’s stock after acquiring an additional 47,187 shares during the period. Rafferty Asset Management LLC’s holdings in Cogent Biosciences were worth $1,255,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. ProShare Advisors LLC grew its position in shares of Cogent Biosciences by 30.5% in the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company’s stock valued at $242,000 after purchasing an additional 7,267 shares during the period. Paradigm Biocapital Advisors LP boosted its stake in Cogent Biosciences by 6.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company’s stock worth $38,356,000 after buying an additional 307,650 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Cogent Biosciences in the 4th quarter worth about $236,000. Octagon Capital Advisors LP grew its holdings in Cogent Biosciences by 111.7% in the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after buying an additional 1,458,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cogent Biosciences by 7.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company’s stock valued at $456,000 after acquiring an additional 3,831 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COGT shares. Scotiabank began coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 target price on the stock. HC Wainwright decreased their price target on shares of Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Piper Sandler raised Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Cogent Biosciences Trading Down 6.2%

NASDAQ:COGT opened at $4.98 on Thursday. The firm’s fifty day simple moving average is $5.28 and its 200 day simple moving average is $7.38. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $12.61. The firm has a market capitalization of $567.00 million, a price-to-earnings ratio of -2.01 and a beta of 1.91.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.04. On average, analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.