J. Goldman & Co LP Acquires Shares of 637,994 Cogent Biosciences, Inc. $COGT

J. Goldman & Co LP acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 637,994 shares of the technology company’s stock, valued at approximately $24,690,000. Cogent Biosciences accounts for 0.6% of J. Goldman & Co LP’s holdings, making the stock its 28th largest holding. J. Goldman & Co LP owned approximately 0.37% of Cogent Biosciences at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Cogent Biosciences by 1,164.3% during 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. J.Safra Asset Management Corp acquired a new position in shares of Cogent Biosciences during the 2nd quarter worth approximately $27,000. Osaic Holdings Inc. increased its holdings in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares during the period. Strs Ohio acquired a new stake in shares of Cogent Biosciences in the first quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $37,000.

Wall Street Analyst Weigh In

COGT has been the topic of a number of analyst reports. Guggenheim increased their price target on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Friday, May 29th. Piper Sandler upped their target price on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. HC Wainwright increased their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Cogent Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued 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 an average rating of “Moderate Buy” and an average price target of $49.40.

Cogent Biosciences Stock Up 1.6%

NASDAQ COGT opened at $36.80 on Wednesday. The business has a fifty day moving average price of $38.62 and a two-hundred day moving average price of $36.61. The stock has a market capitalization of $6.39 billion, a PE ratio of -17.04 and a beta of 0.38. Cogent Biosciences, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $43.73. 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 (NASDAQ:COGT) last issued its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. Equities analysts expect that Cogent Biosciences, Inc. will post -2.24 earnings per share for the current fiscal 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.