Virtus Investment Advisers LLC Has $94,000 Stock Position in Cogent Biosciences, Inc. $COGT

Virtus Investment Advisers LLC lessened its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 33.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,024 shares of the technology company’s stock after selling 6,663 shares during the period. Virtus Investment Advisers LLC’s holdings in Cogent Biosciences were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of Cogent Biosciences in the first quarter worth approximately $36,000. CWM LLC boosted its stake in Cogent Biosciences by 11,869.9% in the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after purchasing an additional 8,665 shares during the period. Ameritas Investment Partners Inc. grew its position in Cogent Biosciences by 16.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares in the last quarter. Prudential Financial Inc. purchased a new position in Cogent Biosciences during the 2nd quarter worth approximately $93,000. Finally, 49 Wealth Management LLC raised its stake in Cogent Biosciences by 19.0% during the 2nd quarter. 49 Wealth Management LLC now owns 15,508 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,476 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COGT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Monday, November 24th. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Leerink Partners upped their target price on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Stifel Nicolaus upgraded shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, November 10th. Finally, Guggenheim upped their price objective on shares of Cogent Biosciences from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and an average target price of $32.33.

Cogent Biosciences Stock Down 0.6%

Shares of Cogent Biosciences stock opened at $40.16 on Monday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of -24.48 and a beta of 0.49. The stock has a 50-day simple moving average of $21.44 and a 200-day simple moving average of $13.81. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $41.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.04. On average, equities research analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.