American Century Companies Inc. Sells 7,032 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

American Century Companies Inc. lowered its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,997 shares of the technology company’s stock after selling 7,032 shares during the quarter. American Century Companies Inc.’s holdings in Cogent Biosciences were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC acquired a new stake in Cogent Biosciences in the 2nd quarter worth approximately $89,000. Rhumbline Advisers lifted its position in Cogent Biosciences by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 130,516 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 11,383 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cogent Biosciences by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company’s stock valued at $2,753,000 after acquiring an additional 45,770 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Cogent Biosciences in the second quarter worth about $1,077,000. Finally, Farallon Capital Management LLC lifted its position in shares of Cogent Biosciences by 2,617.6% during the 1st quarter. Farallon Capital Management LLC now owns 462,000 shares of the technology company’s stock worth $3,105,000 after purchasing an additional 445,000 shares during the last quarter.

Cogent Biosciences Trading Down 1.6 %

NASDAQ COGT opened at $10.55 on Friday. Cogent Biosciences, Inc. has a 1-year low of $3.67 and a 1-year high of $12.14. The stock’s 50 day moving average is $10.09 and its two-hundred day moving average is $8.55. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.25 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

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

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.