First Turn Management LLC Acquires New Holdings in Cogent Biosciences, Inc. $COGT

First Turn Management LLC acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 824,283 shares of the technology company’s stock, valued at approximately $29,279,000. Cogent Biosciences accounts for about 3.3% of First Turn Management LLC’s investment portfolio, making the stock its 14th biggest holding. First Turn Management LLC owned about 0.58% of Cogent Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairmount Funds Management LLC grew its position in shares of Cogent Biosciences by 44.6% in the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the period. Vanguard Group Inc. grew its position 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 position in shares of Cogent Biosciences in the 4th quarter valued at approximately $1,643,000. Principal Financial Group Inc. acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $3,913,000. Finally, Readystate Asset Management LP acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $714,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COGT shares. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Piper Sandler upped their price target on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Trading Up 1.5%

NASDAQ:COGT opened at $33.10 on Friday. Cogent Biosciences, Inc. has a twelve month low of $6.88 and a twelve month high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $34.62 and a two-hundred day moving average price of $36.58. The company has a market cap of $5.66 billion, a P/E ratio of -15.25 and a beta of 0.34.

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

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.