E Fund Management Co. Ltd. Invests $91,000 in Cogent Biosciences, Inc. (NASDAQ:COGT)

E Fund Management Co. Ltd. purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 15,411 shares of the technology company’s stock, valued at approximately $91,000.

Other institutional investors have also added to or reduced their stakes in the company. AJOVista LLC purchased a new position in shares of Cogent Biosciences in the 4th quarter valued at $45,000. China Universal Asset Management Co. Ltd. grew its position in Cogent Biosciences by 355.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock worth $59,000 after purchasing an additional 7,772 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Cogent Biosciences during the third quarter worth $99,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cogent Biosciences by 29.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,571 shares during the period. Finally, Arizona State Retirement System lifted its position in Cogent Biosciences by 42.9% during the 3rd quarter. Arizona State Retirement System now owns 15,446 shares of the technology company’s stock worth $151,000 after acquiring an additional 4,640 shares during the period.

Cogent Biosciences Stock Performance

COGT stock remained flat at $7.92 during mid-day trading on Friday. The company’s stock had a trading volume of 21,444 shares, compared to its average volume of 1,928,701. The firm has a market capitalization of $757.25 million, a P/E ratio of -3.19 and a beta of 1.57. The firm has a 50-day moving average of $6.76 and a 200 day moving average of $6.63. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $13.50.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Analysts predict that Cogent Biosciences, Inc. will post -1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

COGT has been the topic of several research reports. Leerink Partnrs reiterated an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Citigroup boosted their target price on shares of Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Robert W. Baird reaffirmed a “neutral” rating and set a $8.00 price target (down from $14.00) on shares of Cogent Biosciences in a research report on Monday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $13.67.

About Cogent Biosciences

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.