Cogent Biosciences, Inc. $COGT Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 26.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 209,402 shares of the technology company’s stock after buying an additional 43,892 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cogent Biosciences were worth $8,104,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Cogent Biosciences during the 2nd quarter valued at about $671,547,000. Deerfield Management Company L.P. raised its holdings in Cogent Biosciences by 242.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after purchasing an additional 6,412,903 shares during the period. RTW Investments LP boosted its position in Cogent Biosciences by 119.0% during the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after purchasing an additional 4,124,755 shares in the last quarter. State Street Corp boosted its position in Cogent Biosciences by 3.5% during the fourth quarter. State Street Corp now owns 4,940,300 shares of the technology company’s stock worth $175,479,000 after purchasing an additional 164,881 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Cogent Biosciences by 42.8% in the fourth quarter. Janus Henderson Group PLC now owns 4,537,408 shares of the technology company’s stock valued at $161,115,000 after purchasing an additional 1,359,365 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Guggenheim boosted their price target on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Piper Sandler boosted their price target on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.56.

Cogent Biosciences Price Performance

Shares of COGT opened at $34.76 on Tuesday. The stock has a 50 day moving average price of $38.42 and a 200 day moving average price of $36.50. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -16.09 and a beta of 0.31.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Equities research analysts forecast that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal year.

Cogent Biosciences Company 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.