Maven Securities LTD Purchases Shares of 20,000 Cogent Biosciences, Inc. $COGT

Maven Securities LTD acquired a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 20,000 shares of the technology company’s stock, valued at approximately $774,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp acquired a new stake in Cogent Biosciences during the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after buying an additional 652 shares during the last quarter. Parallel Advisors LLC acquired a new position in Cogent Biosciences in the first quarter worth approximately $39,000. Global Retirement Partners LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at $37,000. Finally, Summit Securities Group LLC bought a new position in shares of Cogent Biosciences in the first quarter valued at $46,000.

Wall Street Analysts Forecast Growth

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

Cogent Biosciences Trading Up 1.5%

NASDAQ COGT opened at $35.28 on Wednesday. The firm’s 50 day moving average price is $38.35 and its two-hundred day moving average price is $36.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. Cogent Biosciences, Inc. has a twelve month low of $11.60 and a twelve month high of $43.73. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -16.33 and a beta of 0.31.

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