SummitTX Capital L.P. Raises Stake in Cogent Biosciences, Inc. $COGT

SummitTX Capital L.P. increased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 14.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,780 shares of the technology company’s stock after buying an additional 36,609 shares during the period. SummitTX Capital L.P.’s holdings in Cogent Biosciences were worth $11,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC boosted its position in Cogent Biosciences by 4.9% during the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after acquiring an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Cogent Biosciences by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after purchasing an additional 300 shares during the period. Optimize Financial Inc lifted its stake in shares of Cogent Biosciences by 1.4% during the 4th quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after purchasing an additional 472 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after purchasing an additional 527 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on COGT shares. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. HC Wainwright lifted their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.90.

Cogent Biosciences Price Performance

Shares of COGT opened at $39.76 on Monday. Cogent Biosciences, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.73. The company’s fifty day moving average is $35.86 and its two-hundred day moving average is $36.35. The firm has a market cap of $6.79 billion, a PE ratio of -18.32 and a beta of 0.34. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41.

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

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.