Commodore Capital LP Grows Stock Holdings in Cogent Biosciences, Inc. $COGT

Commodore Capital LP increased its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 213.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,250,000 shares of the technology company’s stock after acquiring an additional 4,938,836 shares during the quarter. Cogent Biosciences comprises 5.1% of Commodore Capital LP’s investment portfolio, making the stock its 4th biggest position. Commodore Capital LP owned about 0.05% of Cogent Biosciences worth $104,110,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after buying an additional 1,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 1,003 shares in the last quarter. CWM LLC boosted its position in shares of Cogent Biosciences by 25.3% during the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,126 shares during the last quarter. Strs Ohio bought a new stake in shares of Cogent Biosciences during the 1st quarter valued at about $36,000. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in shares of Cogent Biosciences by 181.3% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 9,000 shares of the technology company’s stock worth $129,000 after purchasing an additional 5,800 shares in the last quarter.

Insider Buying and Selling at Cogent Biosciences

In related news, insider Jessica Sachs sold 82,642 shares of the stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the transaction, the insider owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the completion of the transaction, the director owned 5,503,418 shares in the company, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,737,642 shares of company stock valued at $136,600,345. 7.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright raised their target price on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price target on shares of Cogent Biosciences in a report on Monday, December 8th. Piper Sandler raised their price objective on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Two equities 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.82.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $34.00 on Friday. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of -15.74 and a beta of 0.47. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $43.73. The stock’s 50-day moving average is $37.32 and its 200 day moving average is $28.92.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). On average, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

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.