Hennion & Walsh Asset Management Inc. Grows Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 34.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 171,999 shares of the technology company’s stock after purchasing an additional 44,287 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cogent Biosciences were worth $1,858,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. 49 Wealth Management LLC lifted its holdings in Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after buying an additional 2,236 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Cogent Biosciences by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,500 shares during the last quarter. ProShare Advisors LLC boosted its position in Cogent Biosciences by 15.3% during the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after purchasing an additional 2,953 shares in the last quarter. Creative Planning grew its stake in Cogent Biosciences by 29.6% in the third quarter. Creative Planning now owns 14,324 shares of the technology company’s stock valued at $155,000 after purchasing an additional 3,272 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 8.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company’s stock worth $352,000 after purchasing an additional 3,912 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COGT shares. JPMorgan Chase & Co. lowered their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Wedbush restated a “neutral” rating and set a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research note on Tuesday, September 3rd. Finally, HC Wainwright decreased their price target on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $11.97 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -4.83 and a beta of 1.71. The stock’s fifty day moving average price is $10.90 and its 200 day moving average price is $9.11. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter last year, the business earned ($0.59) earnings per share. Research analysts expect that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current year.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.