Seven Fleet Capital Management LP Purchases Shares of 54,025 Cogent Biosciences, Inc. $COGT

Seven Fleet Capital Management LP purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 54,025 shares of the technology company’s stock, valued at approximately $1,919,000. Cogent Biosciences makes up approximately 1.5% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Fairmount Funds Management LLC increased its stake in shares of Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after purchasing an additional 2,777,777 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cogent Biosciences by 18.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock valued at $111,400,000 after purchasing an additional 1,234,711 shares during the period. Pier Capital LLC acquired a new stake in Cogent Biosciences in the 4th quarter valued at about $1,643,000. Readystate Asset Management LP acquired a new stake in Cogent Biosciences in the 3rd quarter valued at about $714,000. Finally, Pictet Asset Management Holding SA grew its holdings in Cogent Biosciences by 710.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after purchasing an additional 98,602 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on COGT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. HC Wainwright lifted their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Jefferies Financial Group started coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price target on the stock. 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 given a Sell rating to the company. Based on data from MarketBeat.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Cogent Biosciences Stock Up 2.6%

Shares of COGT opened at $34.54 on Friday. Cogent Biosciences, Inc. has a 52 week low of $6.92 and a 52 week high of $43.73. The firm has a market cap of $5.90 billion, a P/E ratio of -15.92 and a beta of 0.34. The firm’s 50-day simple moving average is $34.48 and its 200 day simple moving average is $36.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.53). On average, analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current 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.