Bank of Montreal Can Invests $3.14 Million in Cogent Biosciences, Inc. (NASDAQ:COGT)

Bank of Montreal Can purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 287,610 shares of the technology company’s stock, valued at approximately $3,135,000. Bank of Montreal Can owned 0.26% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in Cogent Biosciences during the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares during the last quarter. nVerses Capital LLC bought a new position in Cogent Biosciences during the third quarter worth $76,000. Quest Partners LLC bought a new position in Cogent Biosciences during the second quarter worth $89,000. Finally, SkyView Investment Advisors LLC raised its stake in Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter.

Analysts Set New Price Targets

COGT has been the subject of several research analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC decreased their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Stock Up 0.2 %

COGT opened at $9.21 on Thursday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -3.71 and a beta of 1.70. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.61. The company’s 50-day moving average price is $10.65 and its two-hundred day moving average price is $9.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the firm posted ($0.64) EPS. As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current year.

Cogent Biosciences Company Profile

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.