Victory Capital Management Inc. Makes New Investment in Cogent Biosciences, Inc. (NASDAQ:COGT)

Victory Capital Management Inc. purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,492 shares of the technology company’s stock, valued at approximately $113,000.

A number of other hedge funds have also recently modified their holdings of COGT. Vanguard Group Inc. grew its stake in shares of Cogent Biosciences by 27.1% during the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after acquiring an additional 1,231,050 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Cogent Biosciences by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock worth $237,000 after purchasing an additional 4,030 shares during the period. California State Teachers Retirement System increased its stake in shares of Cogent Biosciences by 15.8% in the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company’s stock worth $432,000 after purchasing an additional 8,804 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Cogent Biosciences during the 2nd quarter valued at $1,077,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cogent Biosciences by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company’s stock valued at $2,753,000 after buying an additional 45,770 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on COGT. Citigroup increased their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Needham & Company LLC decreased their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Finally, Robert W. Baird lifted 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Trading Down 0.7 %

NASDAQ:COGT opened at $9.51 on Monday. The business’s 50-day moving average is $10.71 and its 200 day moving average is $9.69. Cogent Biosciences, Inc. has a 12 month low of $3.67 and a 12 month high of $12.61. The company has a market capitalization of $1.05 billion, a P/E ratio of -3.83 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period last year, the firm earned ($0.64) earnings per share. On average, research analysts forecast that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current 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.