State Street Corp Has $34.90 Million Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

State Street Corp trimmed its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 15.8% in the third quarter, Holdings Channel reports. The fund owned 3,231,462 shares of the technology company’s stock after selling 605,500 shares during the period. State Street Corp’s holdings in Cogent Biosciences were worth $34,900,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. grew its position in shares of Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in Cogent Biosciences by 144.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock worth $31,564,000 after buying an additional 2,209,918 shares during the period. FMR LLC lifted its stake in Cogent Biosciences by 8.1% in the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after buying an additional 625,743 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Cogent Biosciences in the third quarter valued at approximately $6,019,000. Finally, Sofinnova Investments Inc. increased its position in shares of Cogent Biosciences by 15.5% during the second quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock worth $23,379,000 after acquiring an additional 372,515 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wedbush restated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Finally, Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Stock Up 0.5 %

COGT stock opened at $7.84 on Friday. The company has a market cap of $866.02 million, a price-to-earnings ratio of -3.16 and a beta of 1.70. Cogent Biosciences, Inc. has a twelve month low of $4.28 and a twelve month high of $12.61. The business has a 50 day moving average price of $10.06 and a two-hundred day moving average price of $9.77.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the business earned ($0.64) earnings per share. On average, equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Cogent Biosciences 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.