Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 67.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,012 shares of the technology company’s stock after selling 16,970 shares during the quarter. AlphaQuest LLC’s holdings in Cogent Biosciences were worth $62,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock worth $1,897,000 after acquiring an additional 97,541 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cogent Biosciences by 20.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock worth $8,919,000 after acquiring an additional 139,096 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cogent Biosciences by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after acquiring an additional 300,062 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $307,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Cogent Biosciences by 10.5% in the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after acquiring an additional 2,200 shares during the last quarter.

Cogent Biosciences Trading Up 1.9 %

Shares of NASDAQ:COGT opened at $7.39 on Thursday. Cogent Biosciences, Inc. has a 52 week low of $5.73 and a 52 week high of $12.61. The company’s 50 day moving average is $8.00 and its two-hundred day moving average is $9.30. The company has a market cap of $841.35 million, a PE ratio of -2.98 and a beta of 1.81.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COGT shares. Wedbush restated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, February 25th. HC Wainwright cut their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird cut their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Scotiabank assumed coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.43.

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.