Commodore Capital LP Sells 5,053,155 Shares of Cogent Biosciences, Inc. $COGT

Commodore Capital LP decreased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 69.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,196,845 shares of the technology company’s stock after selling 5,053,155 shares during the period. Cogent Biosciences makes up 5.2% of Commodore Capital LP’s portfolio, making the stock its 6th largest position. Commodore Capital LP’s holdings in Cogent Biosciences were worth $78,032,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CWM LLC raised its stake in Cogent Biosciences by 4.9% during the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after buying an additional 276 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Cogent Biosciences by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after acquiring an additional 300 shares during the period. Optimize Financial Inc increased its holdings in shares of Cogent Biosciences by 1.4% in the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after acquiring an additional 472 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 purchasing an additional 488 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position 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 purchasing an additional 527 shares during the period.

Cogent Biosciences Trading Up 1.8%

NASDAQ COGT opened at $33.67 on Thursday. Cogent Biosciences, Inc. has a 52 week low of $6.92 and a 52 week high of $43.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The stock’s 50 day moving average price is $34.50 and its two-hundred day moving average price is $36.42. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -15.52 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). As a group, analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About Cogent Biosciences

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.