JTC Employer Solutions Trustee Ltd Takes $3.02 Million Position in Cogent Biosciences, Inc. $COGT

JTC Employer Solutions Trustee Ltd bought a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, Holdings Channel reports. The fund bought 78,400 shares of the technology company’s stock, valued at approximately $3,019,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $37,000. PNC Financial Services Group Inc. increased its stake in shares of Cogent Biosciences by 414.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after buying an additional 1,032 shares during the period. GAMMA Investing LLC increased its stake in shares of Cogent Biosciences by 91.7% during the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after buying an additional 655 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after buying an additional 488 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COGT shares. Jefferies Financial Group started coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Price Performance

COGT opened at $35.38 on Friday. The stock has a fifty day simple moving average of $35.27 and a two-hundred day simple moving average of $36.72. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.05 billion, a price-to-earnings ratio of -16.30 and a beta of 0.37. Cogent Biosciences, Inc. has a 12-month low of $5.03 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). Research analysts predict that Cogent Biosciences, Inc. will post -2.23 earnings per share for the current fiscal 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.