Renaissance Technologies LLC Purchases 17,200 Shares of Cogent Biosciences, Inc. $COGT

Renaissance Technologies LLC raised its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 706,268 shares of the technology company’s stock after acquiring an additional 17,200 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of Cogent Biosciences worth $27,184,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Siren L.L.C. increased its stake in Cogent Biosciences by 4.9% during the 1st quarter. Siren L.L.C. now owns 1,709,279 shares of the technology company’s stock valued at $65,790,000 after purchasing an additional 80,000 shares in the last quarter. Knott David M Jr lifted its stake in shares of Cogent Biosciences by 2.0% in the first quarter. Knott David M Jr now owns 104,000 shares of the technology company’s stock valued at $4,003,000 after buying an additional 2,000 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cogent Biosciences by 10.1% during the first quarter. Sei Investments Co. now owns 197,510 shares of the technology company’s stock valued at $7,602,000 after buying an additional 18,096 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Cogent Biosciences during the first quarter worth about $353,000. Finally, Parallel Advisors LLC acquired a new stake in shares of Cogent Biosciences in the 1st quarter worth about $39,000.

Cogent Biosciences Stock Down 2.7%

COGT opened at $39.57 on Thursday. Cogent Biosciences, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.73. The firm has a market capitalization of $6.76 billion, a P/E ratio of -18.23 and a beta of 0.34. The company’s 50-day moving average is $36.36 and its 200 day moving average is $36.45. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

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

Analysts Set New Price Targets

COGT has been the subject of a number of recent research reports. HC Wainwright boosted their price objective on 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 report on Wednesday, July 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.90.

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.