Seven Fleet Capital Management LP Lowers Position in Cogent Biosciences, Inc. $COGT

Seven Fleet Capital Management LP trimmed its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 30.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,399 shares of the technology company’s stock after selling 64,700 shares during the period. Cogent Biosciences comprises about 1.8% of Seven Fleet Capital Management LP’s portfolio, making the stock its 14th largest position. Seven Fleet Capital Management LP’s holdings in Cogent Biosciences were worth $5,750,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in COGT. Parallel Advisors LLC bought a new stake in shares of Cogent Biosciences in the 1st quarter valued at about $39,000. Amundi purchased a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $212,000. EverSource Wealth Advisors LLC boosted its stake in shares of Cogent Biosciences by 127.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,611 shares of the technology company’s stock valued at $62,000 after purchasing an additional 903 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Cogent Biosciences by 20.7% during the first quarter. California State Teachers Retirement System now owns 100,980 shares of the technology company’s stock valued at $3,887,000 after purchasing an additional 17,297 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Cogent Biosciences by 233.7% during the first quarter. Royal Bank of Canada now owns 56,260 shares of the technology company’s stock valued at $2,165,000 after buying an additional 39,403 shares during the period.

Wall Street Analyst Weigh In

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

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $38.93 on Friday. The company has a market capitalization of $6.65 billion, a PE ratio of -17.94 and a beta of 0.34. The company has a 50-day simple moving average of $36.66 and a two-hundred day simple moving average of $36.51. Cogent Biosciences, Inc. has a one year low of $10.38 and a one year high of $43.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14.

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

Cogent Biosciences Company 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.