State of New Jersey Common Pension Fund D Takes $1.02 Million Position in Cogent Biosciences, Inc. $COGT

State of New Jersey Common Pension Fund D acquired a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,610 shares of the technology company’s stock, valued at approximately $1,016,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC raised its stake in Cogent Biosciences by 4.9% in the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock valued at $208,000 after buying an additional 276 shares during the last quarter. Nisa Investment Advisors LLC grew 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 worth $66,000 after acquiring an additional 488 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 acquiring an additional 655 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, March 17th. HC Wainwright boosted their price objective on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Two research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Stock Performance

COGT opened at $34.10 on Tuesday. 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 12-month low of $4.55 and a 12-month high of $43.73. The firm has a 50 day moving average of $36.14 and a two-hundred day moving average of $35.07. The firm has a market capitalization of $5.83 billion, a PE ratio of -15.71 and a beta of 0.37.

Cogent Biosciences (NASDAQ:COGT) last released 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). On average, analysts anticipate that Cogent Biosciences, Inc. will post -2.18 EPS 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.