Defilade Capital Management L.P. Sells 216,029 Shares of Cogent Biosciences, Inc. $COGT

Defilade Capital Management L.P. trimmed its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 38.0% in the first quarter, HoldingsChannel reports. The firm owned 352,590 shares of the technology company’s stock after selling 216,029 shares during the quarter. Cogent Biosciences accounts for about 1.9% of Defilade Capital Management L.P.’s holdings, making the stock its 23rd largest holding. Defilade Capital Management L.P.’s holdings in Cogent Biosciences were worth $13,571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pier Capital LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $1,643,000. Vanguard Group Inc. increased its position in shares of Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after acquiring an additional 3,756,664 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Cogent Biosciences by 710.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after acquiring an additional 98,602 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in Cogent Biosciences during the fourth quarter worth $1,330,000. Finally, Weiss Asset Management LP purchased a new position in Cogent Biosciences in the first quarter worth $13,322,000.

Analysts Set New Price Targets

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

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $38.93 on Monday. The firm has a 50 day moving average price of $36.66 and a 200-day moving average price of $36.52. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a twelve month low of $10.38 and a twelve month high of $43.73. The company has a market capitalization of $6.65 billion, a P/E ratio of -17.94 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, equities analysts predict 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.