Rafferty Asset Management LLC Purchases 57,139 Shares of Cogent Biosciences, Inc. $COGT

Rafferty Asset Management LLC boosted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 62.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 148,801 shares of the technology company’s stock after purchasing an additional 57,139 shares during the period. Rafferty Asset Management LLC’s holdings in Cogent Biosciences were worth $2,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Candriam S.C.A. acquired a new stake in shares of Cogent Biosciences in the second quarter valued at approximately $3,068,000. Voya Investment Management LLC increased its holdings in shares of Cogent Biosciences by 110.0% during the 3rd quarter. Voya Investment Management LLC now owns 61,623 shares of the technology company’s stock worth $885,000 after acquiring an additional 32,279 shares during the last quarter. Federated Hermes Inc. raised its stake in Cogent Biosciences by 4,661,150.0% in the 3rd quarter. Federated Hermes Inc. now owns 93,225 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 93,223 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Cogent Biosciences in the 3rd quarter valued at $885,000. Finally, Optimize Financial Inc acquired a new stake in Cogent Biosciences during the 3rd quarter valued at $467,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Wednesday, January 21st. Leerink Partners increased their price target on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Finally, Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $37.02 on Thursday. The firm has a market cap of $6.01 billion, a PE ratio of -17.14 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 14.23 and a quick ratio of 14.23. The stock’s fifty day moving average price is $37.44 and its two-hundred day moving average price is $27.73. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last released its 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). As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity

In other Cogent Biosciences news, insider Jessica Sachs sold 82,642 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 133,938 shares in the company, valued at $5,183,400.60. The trade was a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total value of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. This trade represents a 38.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,737,642 shares of company stock worth $136,600,345. 7.29% of the stock is owned by company insiders.

Cogent Biosciences 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.