Parkman Healthcare Partners LLC Acquires Shares of 253,365 Cogent Biosciences, Inc. $COGT

Parkman Healthcare Partners LLC acquired a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 253,365 shares of the technology company’s stock, valued at approximately $9,805,000. Parkman Healthcare Partners LLC owned 0.15% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in COGT. BlackRock Inc. bought a new stake in Cogent Biosciences during the 2nd quarter valued at $671,547,000. Deerfield Management Company L.P. increased its position in shares of Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after acquiring an additional 6,412,903 shares during the period. RTW Investments LP increased its position in shares of Cogent Biosciences by 119.0% in the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after acquiring an additional 4,124,755 shares during the period. Vanguard Group Inc. raised its position in Cogent Biosciences by 48.4% during 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 during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Cogent Biosciences in the 3rd quarter worth approximately $38,348,000.

Cogent Biosciences Trading Down 1.4%

NASDAQ:COGT opened at $36.23 on Tuesday. The firm has a market capitalization of $6.29 billion, a P/E ratio of -16.77 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73. The company’s 50-day simple moving average is $38.55 and its 200 day simple moving average is $36.61.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. As a group, analysts forecast that Cogent Biosciences, Inc. will post -2.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on COGT shares. HC Wainwright upped their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Piper Sandler lifted their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.40.

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.