Sectoral Asset Management Inc. Takes $1.16 Million Position in Cogent Biosciences, Inc. $COGT

Sectoral Asset Management Inc. acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 32,685 shares of the technology company’s stock, valued at approximately $1,161,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Cogent Biosciences by 48.4% in the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. boosted its stake in shares of Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC boosted its stake in shares of Cogent Biosciences by 44.6% in the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares in the last quarter. Commodore Capital LP boosted its stake in shares of Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after purchasing an additional 4,938,836 shares in the last quarter. Finally, Vestal Point Capital LP boosted its stake in shares of Cogent Biosciences by 2.7% in the 2nd quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company’s stock valued at $22,114,000 after purchasing an additional 80,000 shares in the last quarter.

Cogent Biosciences Stock Performance

Shares of COGT opened at $32.67 on Monday. The stock has a market capitalization of $5.58 billion, a P/E ratio of -15.06 and a beta of 0.37. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $35.34 and a two-hundred day simple moving average of $36.17. Cogent Biosciences, Inc. has a twelve month low of $4.75 and a twelve month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, meeting the consensus estimate of ($0.53). On average, research analysts anticipate that Cogent Biosciences, Inc. will post -2.23 EPS for the current year.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective for the company. Robert W. Baird set a $35.00 price objective on shares of Cogent Biosciences in a research note on Thursday, February 19th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Piper Sandler upped their price objective on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, HC Wainwright increased their price target on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

About Cogent Biosciences

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.