Siren L.L.C. Has $65.79 Million Stock Position in Cogent Biosciences, Inc. $COGT

Siren L.L.C. lifted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 4.9% in the first quarter, HoldingsChannel reports. The firm owned 1,709,279 shares of the technology company’s stock after purchasing an additional 80,000 shares during the period. Cogent Biosciences accounts for 1.8% of Siren L.L.C.’s holdings, making the stock its 15th biggest position. Siren L.L.C.’s holdings in Cogent Biosciences were worth $65,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC lifted its stake in Cogent Biosciences by 4.9% during the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock valued at $208,000 after buying an additional 276 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Cogent Biosciences by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after acquiring an additional 300 shares in the last quarter. Optimize Financial Inc increased its position in shares of Cogent Biosciences by 1.4% in the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after acquiring an additional 472 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after acquiring an additional 488 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock valued at $888,000 after acquiring an additional 527 shares during the period.

Wall Street Analyst Weigh In

COGT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, HC Wainwright increased their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.90.

Cogent Biosciences Trading Up 1.8%

NASDAQ:COGT opened at $40.24 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. Cogent Biosciences, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.73. The stock’s 50-day moving average is $35.71 and its two-hundred day moving average is $36.31. The stock has a market cap of $6.88 billion, a PE ratio of -18.54 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.53). As a group, equities research analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

About Cogent Biosciences

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.