Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Holdings Boosted by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 99.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,657 shares of the technology company’s stock after buying an additional 28,233 shares during the quarter. Intech Investment Management LLC owned 0.05% of Cogent Biosciences worth $442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of COGT. Victory Capital Management Inc. bought a new position in shares of Cogent Biosciences during the 3rd quarter valued at about $113,000. Quest Partners LLC boosted its holdings in Cogent Biosciences by 136.5% during the third quarter. Quest Partners LLC now owns 24,982 shares of the technology company’s stock worth $270,000 after buying an additional 14,421 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Cogent Biosciences by 20.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock worth $8,919,000 after buying an additional 139,096 shares during the last quarter. Algert Global LLC increased its holdings in shares of Cogent Biosciences by 14.0% in the third quarter. Algert Global LLC now owns 179,025 shares of the technology company’s stock valued at $1,933,000 after buying an additional 21,991 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cogent Biosciences during the 3rd quarter valued at $134,000.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $7.40 on Tuesday. The company has a 50 day simple moving average of $7.97 and a 200-day simple moving average of $9.21. Cogent Biosciences, Inc. has a 52-week low of $5.73 and a 52-week high of $12.61. The firm has a market capitalization of $842.49 million, a price-to-earnings ratio of -2.98 and a beta of 1.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COGT. Scotiabank started coverage on Cogent Biosciences in a research report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price on the stock. Robert W. Baird cut their price objective on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. HC Wainwright decreased their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.43.

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.