Nicholas Investment Partners LP Takes Position in Cogent Biosciences, Inc. $COGT

Nicholas Investment Partners LP bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 151,066 shares of the technology company’s stock, valued at approximately $5,366,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Turn Management LLC purchased a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $29,279,000. Landscape Capital Management L.L.C. purchased a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $243,000. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $860,000. Aigen Investment Management LP purchased a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $201,000. Finally, Marshall Wace LLP boosted its stake in shares of Cogent Biosciences by 158.5% in the 4th quarter. Marshall Wace LLP now owns 1,660,735 shares of the technology company’s stock worth $58,989,000 after buying an additional 1,018,256 shares during the last quarter.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $33.10 on Friday. Cogent Biosciences, Inc. has a 12 month low of $6.88 and a 12 month high of $43.73. 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 business’s 50 day simple moving average is $34.62 and its 200 day simple moving average is $36.58. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -15.25 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last posted 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). Sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COGT shares. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research note on Thursday, February 19th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. HC Wainwright boosted their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler boosted their target price on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group assumed coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.73.

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.