Persistent Asset Partners Ltd Acquires Shares of 138,272 Cogent Biosciences, Inc. $COGT

Persistent Asset Partners Ltd bought a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 138,272 shares of the technology company’s stock, valued at approximately $5,351,000. Cogent Biosciences accounts for 1.6% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 13th biggest position. Persistent Asset Partners Ltd owned about 0.08% of Cogent Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of COGT. CWM LLC grew its stake in Cogent Biosciences by 4.9% in the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock valued at $208,000 after buying an additional 276 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Cogent Biosciences by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after acquiring an additional 300 shares during the period. Optimize Financial Inc lifted its position in shares of Cogent Biosciences by 1.4% during the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after acquiring an additional 472 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cogent Biosciences by 2.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after acquiring an additional 527 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares during the period.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $37.93 on Monday. The firm has a fifty day moving average price of $38.01 and a two-hundred day moving average price of $36.65. 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 $11.53 and a one year high of $43.73. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -17.56 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Analysts anticipate that Cogent Biosciences, Inc. will post -2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright boosted their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Guggenheim lifted their target price on Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.10.

Cogent Biosciences 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.