Pier Capital LLC Acquires Shares of 46,260 Cogent Biosciences, Inc. $COGT

Pier Capital LLC acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 46,260 shares of the technology company’s stock, valued at approximately $1,643,000.

Other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after buying an additional 1,333 shares during the last quarter. Strs Ohio acquired a new stake in shares of Cogent Biosciences during the 1st quarter worth approximately $36,000. GAMMA Investing LLC grew its position in shares of Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after buying an additional 655 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Cogent Biosciences by 35.7% during the 4th 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 period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cogent Biosciences by 22.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock worth $78,000 after buying an additional 1,003 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on COGT. Piper Sandler lifted their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Robert W. Baird set a $35.00 target price on shares of Cogent Biosciences in a research note on Thursday, February 19th. Finally, Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $34.79 on Friday. The company’s 50 day moving average price is $36.35 and its two-hundred day moving average price is $34.81. Cogent Biosciences, Inc. has a 12-month low of $4.55 and a 12-month high of $43.73. The firm has a market cap of $5.94 billion, a PE ratio of -16.03 and a beta of 0.37. The company has a quick ratio of 14.23, a current ratio of 15.14 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting the consensus estimate of ($0.53). Equities research analysts predict that Cogent Biosciences, Inc. will post -2.11 earnings per share for the current year.

Cogent Biosciences 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.