Fisher Asset Management LLC Sells 55,578 Shares of Cogent Biosciences, Inc. $COGT

Fisher Asset Management LLC lessened its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 53.7% during the 4th quarter, Holdings Channel reports. The fund owned 47,914 shares of the technology company’s stock after selling 55,578 shares during the period. Fisher Asset Management LLC’s holdings in Cogent Biosciences were worth $1,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairmount Funds Management LLC boosted its position in Cogent Biosciences by 44.6% during 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 acquiring an additional 2,777,777 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Cogent Biosciences by 4,661,150.0% during the 3rd quarter. Federated Hermes Inc. now owns 93,225 shares of the technology company’s stock valued at $1,339,000 after purchasing an additional 93,223 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cogent Biosciences by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock valued at $111,400,000 after purchasing an additional 1,234,711 shares during the last quarter. Optimize Financial Inc purchased a new stake in shares of Cogent Biosciences during the 3rd quarter valued at $467,000. Finally, Candriam S.C.A. lifted its holdings in shares of Cogent Biosciences by 123.3% during the 3rd quarter. Candriam S.C.A. now owns 954,209 shares of the technology company’s stock valued at $13,702,000 after purchasing an additional 526,867 shares during the last quarter.

Wall Street Analyst Weigh In

COGT has been the subject of several analyst reports. Piper Sandler increased their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. HC Wainwright increased their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $34.96 on Friday. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -16.11 and a beta of 0.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The business has a fifty day moving average of $35.28 and a 200 day moving average of $36.71. Cogent Biosciences, Inc. has a 1 year low of $5.03 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.23 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.