Arizona State Retirement System Raises Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Arizona State Retirement System grew its holdings in Cogent Biosciences, Inc. (NASDAQ:COGTFree Report) by 42.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,446 shares of the technology company’s stock after acquiring an additional 4,640 shares during the period. Arizona State Retirement System’s holdings in Cogent Biosciences were worth $151,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COGT. Federated Hermes Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter valued at $46,000. Quantbot Technologies LP raised its stake in shares of Cogent Biosciences by 150.0% in the 2nd quarter. Quantbot Technologies LP now owns 6,000 shares of the technology company’s stock valued at $54,000 after acquiring an additional 3,600 shares during the period. Royal Bank of Canada raised its stake in shares of Cogent Biosciences by 56.3% in the 2nd quarter. Royal Bank of Canada now owns 5,630 shares of the technology company’s stock valued at $66,000 after acquiring an additional 2,027 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Cogent Biosciences in the 1st quarter valued at $72,000. Finally, Renaissance Technologies LLC purchased a new stake in Cogent Biosciences during the 1st quarter worth $86,000.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $5.88 on Friday. Cogent Biosciences, Inc. has a one year low of $3.67 and a one year high of $14.50. The company has a 50-day simple moving average of $5.50 and a 200-day simple moving average of $8.48. The firm has a market capitalization of $506.39 million, a PE ratio of -2.52 and a beta of 1.39.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COGT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Cogent Biosciences in a research note on Tuesday, December 5th. Wedbush reaffirmed a “neutral” rating on shares of Cogent Biosciences in a research note on Tuesday, January 9th. HC Wainwright dropped their price target on shares of Cogent Biosciences from $27.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, December 15th. Citigroup started coverage on shares of Cogent Biosciences in a research note on Thursday. They set a “buy” rating and a $11.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Cogent Biosciences in a research note on Friday, December 8th. They set an “overweight” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $16.43.

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Cogent Biosciences Company Profile

(Free Report)

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 exon 17 mutations found within the 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.

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Institutional Ownership by Quarter for Cogent Biosciences (NASDAQ:COGT)

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