Algert Global LLC Purchases 184,027 Shares of Cogent Biosciences, Inc. $COGT

Algert Global LLC raised its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 53.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 528,262 shares of the technology company’s stock after acquiring an additional 184,027 shares during the quarter. Algert Global LLC’s holdings in Cogent Biosciences were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. grew its holdings in Cogent Biosciences by 361.3% during the first quarter. Fox Run Management L.L.C. now owns 46,626 shares of the technology company’s stock valued at $279,000 after purchasing an additional 36,518 shares during the period. E Fund Management Co. Ltd. boosted its holdings in shares of Cogent Biosciences by 37.7% in the first quarter. E Fund Management Co. Ltd. now owns 15,670 shares of the technology company’s stock worth $94,000 after acquiring an additional 4,290 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Cogent Biosciences by 17,051.1% in the first quarter. Russell Investments Group Ltd. now owns 29,843 shares of the technology company’s stock worth $179,000 after acquiring an additional 29,669 shares during the period. Knott David M Jr bought a new position in shares of Cogent Biosciences in the first quarter worth $1,278,000. Finally, Nuveen LLC bought a new position in shares of Cogent Biosciences in the first quarter worth $1,401,000.

Insider Buying and Selling at Cogent Biosciences

In related news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the stock in a transaction dated Thursday, July 10th. The stock was bought at an average price of $9.00 per share, with a total value of $24,999,993.00. Following the purchase, the director owned 9,003,418 shares in the company, valued at approximately $81,030,762. The trade was a 44.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.29% of the company’s stock.

Cogent Biosciences Stock Up 0.9%

Shares of COGT stock opened at $11.86 on Thursday. The firm has a market cap of $1.35 billion, a P/E ratio of -6.66 and a beta of 0.36. The business has a 50-day moving average price of $10.09 and a two-hundred day moving average price of $7.52. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $12.97.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Cogent Biosciences from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Robert W. Baird raised their price target on Cogent Biosciences from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Jefferies Financial Group raised their price target on Cogent Biosciences from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a report on Tuesday, June 17th. Finally, Citigroup lifted their price objective on Cogent Biosciences from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.70.

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.