Cogent Biosciences, Inc. $COGT Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,842,776 shares of the technology company’s stock after purchasing an additional 449,261 shares during the period. Pictet Asset Management Holding SA’s holdings in Cogent Biosciences were worth $90,990,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new position in Cogent Biosciences in the second quarter valued at about $27,000. Integrated Wealth Concepts LLC acquired a new position in shares of Cogent Biosciences during the second quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Cogent Biosciences by 127.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,611 shares of the technology company’s stock worth $62,000 after purchasing an additional 903 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Cogent Biosciences in the first quarter worth about $39,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Cogent Biosciences in the second quarter worth about $53,000.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $33.54 on Tuesday. Cogent Biosciences, Inc. has a 12-month low of $27.74 and a 12-month high of $43.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -14.91 and a beta of 0.36. The firm’s fifty day moving average price is $31.80 and its 200 day moving average price is $35.48.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Thursday, November 5th. The technology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). On average, research analysts forecast that Cogent Biosciences, Inc. will post -2.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COGT shares. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Wednesday, September 16th. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. HC Wainwright boosted their price target on Cogent Biosciences from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, October 2nd. Finally, Piper Sandler upped their price target on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $53.57.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biotechnology company developing precision medicines for diseases driven by specific genetic mutations. Its research focuses on targeted therapies intended to address the underlying causes of these conditions.

The company’s lead investigational medicine, bezuclastinib, is a selective inhibitor of the KIT protein. Cogent has studied it in clinical programs for systemic mastocytosis and gastrointestinal stromal tumors (GIST), conditions in which abnormal KIT signaling can play a role.