TimesSquare Capital Management LLC Makes New Investment in Cogent Biosciences, Inc. $COGT

TimesSquare Capital Management LLC purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 447,745 shares of the technology company’s stock, valued at approximately $17,328,000.

A number of other hedge funds also recently modified their holdings of the business. CWM LLC increased its holdings in Cogent Biosciences by 4.9% in the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock valued at $208,000 after purchasing an additional 276 shares during the period. Steward Partners Investment Advisory LLC raised its position in Cogent Biosciences by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after purchasing an additional 300 shares during the last quarter. Optimize Financial Inc lifted its holdings in Cogent Biosciences by 1.4% during the 4th quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after buying an additional 472 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Cogent Biosciences by 2.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after buying an additional 527 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COGT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. HC Wainwright increased their target price on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Piper Sandler boosted their price target on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Guggenheim upped their price objective on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $49.40.

Cogent Biosciences Stock Down 0.2%

Shares of Cogent Biosciences stock opened at $37.87 on Tuesday. Cogent Biosciences, Inc. has a one year low of $11.53 and a one year 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 stock’s 50-day moving average is $38.14 and its 200 day moving average is $36.65. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of -17.53 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.03. Equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.2 EPS 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.