Pictet Asset Management Holding SA Grows Position in Cogent Biosciences, Inc. $COGT

Pictet Asset Management Holding SA raised its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 1,499.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,798,768 shares of the technology company’s stock after purchasing an additional 1,686,292 shares during the period. Pictet Asset Management Holding SA owned 1.11% of Cogent Biosciences worth $68,826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC boosted its stake in shares of Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock valued at $963,000 after purchasing an additional 133,174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cogent Biosciences by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after buying an additional 3,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cogent Biosciences by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after buying an additional 124,069 shares during the period. Jane Street Group LLC lifted its holdings in Cogent Biosciences by 66.2% during the first quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after buying an additional 49,338 shares during the period. Finally, Strs Ohio bought a new stake in Cogent Biosciences during the 1st quarter valued at $36,000.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $38.74 on Tuesday. Cogent Biosciences, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $43.73. The company has a market cap of $6.62 billion, a PE ratio of -17.85 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The business has a 50-day simple moving average of $34.54 and a two-hundred day simple moving average of $36.27.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). As a group, equities analysts expect that Cogent Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COGT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, HC Wainwright boosted their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Cogent Biosciences Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.