Jane Street Group LLC Trims Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Jane Street Group LLC lowered its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 33.4% in the fourth quarter, HoldingsChannel reports. The firm owned 74,484 shares of the technology company’s stock after selling 37,379 shares during the period. Jane Street Group LLC’s holdings in Cogent Biosciences were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its holdings in Cogent Biosciences by 99.2% in the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock valued at $129,240,000 after purchasing an additional 8,249,845 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock worth $47,840,000 after buying an additional 418,975 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Cogent Biosciences by 5.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company’s stock worth $33,540,000 after buying an additional 233,966 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cogent Biosciences by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,308,509 shares of the technology company’s stock worth $18,011,000 after buying an additional 27,716 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Cogent Biosciences by 28.3% during the 4th quarter. Franklin Resources Inc. now owns 1,283,673 shares of the technology company’s stock worth $10,013,000 after buying an additional 283,506 shares during the last quarter.

Analyst Upgrades and Downgrades

COGT has been the topic of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. HC Wainwright reduced their target price on Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 20th. Piper Sandler raised Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Scotiabank initiated coverage on Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price on the stock. Finally, Robert W. Baird reduced their target price on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Cogent Biosciences Trading Up 1.2%

Shares of NASDAQ COGT opened at $4.88 on Wednesday. The company has a market cap of $555.62 million, a price-to-earnings ratio of -1.97 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. The stock’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $7.20.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly 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, equities analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal 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.