Fred Alger Management LLC Acquires New Position in Cogent Biosciences, Inc. $COGT

Fred Alger Management LLC acquired a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,102,181 shares of the technology company’s stock, valued at approximately $39,149,000.

Several other institutional investors also recently bought and sold shares of the company. Persistent Asset Partners Ltd grew its position in Cogent Biosciences by 107.0% during the 4th quarter. Persistent Asset Partners Ltd now owns 47,499 shares of the technology company’s stock valued at $1,687,000 after purchasing an additional 24,553 shares during the last quarter. Opal Capital LLC purchased a new stake in Cogent Biosciences during the 4th quarter valued at about $264,000. Squarepoint Ops LLC purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at about $5,541,000. Verition Fund Management LLC boosted its holdings in shares of Cogent Biosciences by 247.4% during the 4th quarter. Verition Fund Management LLC now owns 59,456 shares of the technology company’s stock valued at $2,112,000 after acquiring an additional 42,342 shares during the last quarter. Finally, Mariner LLC purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at about $252,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on COGT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Piper Sandler raised their price target on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 price target on the stock. Robert W. Baird set a $35.00 price target on shares of Cogent Biosciences in a report on Thursday, February 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $33.07 on Wednesday. The firm’s 50 day moving average price is $34.53 and its 200-day moving average price is $36.47. Cogent Biosciences, Inc. has a twelve month low of $6.92 and a twelve month high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.65 billion, a PE ratio of -15.24 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Equities research analysts expect that Cogent Biosciences, Inc. will post -2.26 EPS for the current 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.