UBS Group AG Lowers Position in Cogent Biosciences, Inc. $COGT

UBS Group AG reduced its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 85.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 264,047 shares of the technology company’s stock after selling 1,589,625 shares during the quarter. UBS Group AG’s holdings in Cogent Biosciences were worth $9,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Cogent Biosciences by 48.4% in the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares during the last quarter. Deerfield Management Company L.P. raised its position in Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after buying an additional 6,412,903 shares during the last quarter. Fairmount Funds Management LLC raised its position in 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 buying an additional 2,777,777 shares during the last quarter. Commodore Capital LP raised its position in Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after buying an additional 4,938,836 shares during the last quarter. Finally, Vestal Point Capital LP raised its position in Cogent Biosciences by 2.7% in the 2nd quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company’s stock valued at $22,114,000 after buying an additional 80,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COGT shares. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research report on Thursday, February 19th. Jefferies Financial Group started coverage on Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. HC Wainwright increased their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Piper Sandler lifted their target price on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Trading Down 4.4%

NASDAQ COGT opened at $32.68 on Friday. The stock’s 50-day simple moving average is $35.82 and its two-hundred day simple moving average is $35.46. Cogent Biosciences, Inc. has a twelve month low of $4.55 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 company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -15.06 and a beta of 0.37.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). Research analysts forecast that Cogent Biosciences, Inc. will post -2.23 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.