Kennedy Capital Management LLC Sells 231,498 Shares of Cogent Biosciences, Inc. $COGT

Kennedy Capital Management LLC decreased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 352,387 shares of the technology company’s stock after selling 231,498 shares during the period. Kennedy Capital Management LLC’s holdings in Cogent Biosciences were worth $12,517,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares during the last quarter. Global Retirement Partners LLC bought a new position in Cogent Biosciences in the fourth quarter valued at about $37,000. PNC Financial Services Group Inc. boosted its holdings in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,032 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Cogent Biosciences by 91.7% in the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after acquiring an additional 655 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after buying an additional 488 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COGT shares. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Jefferies Financial Group started coverage on Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 target price on the stock. HC Wainwright raised their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Price Performance

Shares of COGT opened at $33.10 on Monday. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 1 year low of $6.88 and a 1 year high of $43.73. The stock has a market cap of $5.66 billion, a P/E ratio of -15.25 and a beta of 0.34. The stock’s 50-day moving average price is $34.62 and its two-hundred day moving average price is $36.57.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). On average, equities analysts predict that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current year.

Cogent Biosciences Company Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.