D. E. Shaw & Co. Inc. Decreases Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

D. E. Shaw & Co. Inc. lowered its position in Cogent Biosciences, Inc. (NASDAQ:COGTFree Report) by 25.6% during the 4th quarter, HoldingsChannel reports. The fund owned 339,988 shares of the technology company’s stock after selling 117,240 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Cogent Biosciences were worth $2,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at $78,000. Hsbc Holdings PLC purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at $81,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at $88,000. E Fund Management Co. Ltd. purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at $89,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at $93,000.

Cogent Biosciences Trading Up 2.0%

NASDAQ COGT opened at $4.98 on Tuesday. The company’s 50-day moving average price is $5.36 and its 200-day moving average price is $7.41. The stock has a market cap of $567.00 million, a PE ratio of -2.01 and a beta of 1.91. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $12.61.

Cogent Biosciences (NASDAQ:COGTGet Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.04. As a group, sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

COGT has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Wedbush restated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Finally, Robert W. Baird cut their price target on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Get Our Latest Stock Analysis on COGT

Cogent Biosciences 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 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.

Further Reading

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

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