Springhill Fund Asset Management HK Co Ltd Takes $4.28 Million Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 548,554 shares of the technology company’s stock, valued at approximately $4,279,000. Cogent Biosciences makes up approximately 6.9% of Springhill Fund Asset Management HK Co Ltd’s portfolio, making the stock its 7th largest holding. Springhill Fund Asset Management HK Co Ltd owned about 0.50% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of COGT. KLP Kapitalforvaltning AS acquired a new position in Cogent Biosciences in the 4th quarter worth about $88,000. E Fund Management Co. Ltd. acquired a new position in Cogent Biosciences in the fourth quarter worth approximately $89,000. Proficio Capital Partners LLC bought a new position in Cogent Biosciences during the fourth quarter valued at approximately $93,000. Teacher Retirement System of Texas lifted its stake in Cogent Biosciences by 15.4% in the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,396 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Cogent Biosciences in the third quarter valued at approximately $147,000.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wedbush restated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Scotiabank initiated coverage on Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 target price on the stock. HC Wainwright decreased their price target on 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 cut their price objective on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $14.43.

Cogent Biosciences Stock Down 10.5 %

COGT opened at $4.77 on Friday. Cogent Biosciences, Inc. has a 12-month low of $4.62 and a 12-month high of $12.61. The firm has a market capitalization of $543.06 million, a P/E ratio of -1.92 and a beta of 1.67. The stock’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $8.93.

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.