Y Intercept Hong Kong Ltd Purchases 43,472 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Y Intercept Hong Kong Ltd grew its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 137.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,037 shares of the technology company’s stock after purchasing an additional 43,472 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.07% of Cogent Biosciences worth $585,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Cogent Biosciences by 2,865.3% in the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after acquiring an additional 932,179 shares during the last quarter. FMR LLC boosted its position in shares of Cogent Biosciences by 8.1% in the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Cogent Biosciences during the third quarter worth $6,019,000. Geode Capital Management LLC grew its stake in shares of Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after purchasing an additional 300,062 shares during the period. Finally, Bank of Montreal Can bought a new stake in Cogent Biosciences in the third quarter valued at about $3,135,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. HC Wainwright lowered their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird reduced their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Cogent Biosciences Stock Performance

Shares of COGT opened at $7.53 on Friday. The firm has a market cap of $857.29 million, a P/E ratio of -3.04 and a beta of 1.77. Cogent Biosciences, Inc. has a twelve month low of $5.73 and a twelve month high of $12.61. The firm’s 50 day moving average price is $8.17 and its two-hundred day moving average price is $9.54.

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.