Peregrine Capital Management LLC Takes $7.77 Million Position in Cogent Biosciences, Inc. $COGT

Peregrine Capital Management LLC purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 201,959 shares of the technology company’s stock, valued at approximately $7,773,000. Peregrine Capital Management LLC owned about 0.12% of Cogent Biosciences at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after acquiring an additional 133,174 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cogent Biosciences by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock valued at $377,000 after purchasing an additional 3,693 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Cogent Biosciences by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after purchasing an additional 124,069 shares during the period. Jane Street Group LLC boosted its holdings in shares of Cogent Biosciences by 66.2% in the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after purchasing an additional 49,338 shares during the period. Finally, Strs Ohio bought a new position in shares of Cogent Biosciences during the 1st quarter valued at approximately $36,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COGT. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. HC Wainwright lifted their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Stock Down 0.6%

NASDAQ:COGT opened at $38.48 on Thursday. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -17.73 and a beta of 0.34. Cogent Biosciences, Inc. has a twelve month low of $7.18 and a twelve month high of $43.73. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $34.59 and a 200-day simple moving average of $36.26.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). Analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

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.