Hennion & Walsh Asset Management Inc. Acquires 27,189 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Hennion & Walsh Asset Management Inc. boosted its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302,481 shares of the technology company’s stock after acquiring an additional 27,189 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.27% of Cogent Biosciences worth $1,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC boosted its position in Cogent Biosciences by 124.8% in the third quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after buying an additional 97,541 shares in the last quarter. Janus Henderson Group PLC boosted its position in Cogent Biosciences by 84.3% in the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company’s stock valued at $227,000 after buying an additional 13,300 shares in the last quarter. New York State Common Retirement Fund boosted its position in Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after buying an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cogent Biosciences by 7.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company’s stock valued at $456,000 after buying an additional 3,831 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in 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 buying an additional 7,267 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright reduced their price target on shares of Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 20th. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Cogent Biosciences from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Finally, Robert W. Baird reduced their target price on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.57.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $5.99 on Friday. The company’s 50 day simple moving average is $4.92 and its 200 day simple moving average is $7.01. Cogent Biosciences, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $12.61. The firm has a market capitalization of $682.00 million, a P/E ratio of -2.42 and a beta of 1.91.

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