SG Americas Securities LLC Sells 16,915 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

SG Americas Securities LLC decreased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 947,797 shares of the technology company’s stock after selling 16,915 shares during the quarter. SG Americas Securities LLC’s holdings in Cogent Biosciences were worth $5,677,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Cogent Biosciences by 99.2% during the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock valued at $129,240,000 after buying an additional 8,249,845 shares during the period. Vanguard Group Inc. grew its position in Cogent Biosciences by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock valued at $47,840,000 after buying an additional 418,975 shares during the period. Paradigm Biocapital Advisors LP grew its position in Cogent Biosciences by 6.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company’s stock valued at $38,356,000 after buying an additional 307,650 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Cogent Biosciences by 5.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company’s stock valued at $33,540,000 after buying an additional 233,966 shares during the period. Finally, Octagon Capital Advisors LP grew its position in Cogent Biosciences by 111.7% during the fourth quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after buying an additional 1,458,000 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COGT shares. Robert W. Baird reduced their price target on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. HC Wainwright cut their target price on shares of Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Finally, Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.57.

Cogent Biosciences Stock Down 0.6%

Shares of NASDAQ:COGT opened at $7.22 on Friday. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $12.61. The firm has a market capitalization of $822.04 million, a PE ratio of -2.91 and a beta of 1.82. The company has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $6.95.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. Analysts anticipate 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.