NEXTBio Capital Management LP Makes New Investment in Cogent Biosciences, Inc. $COGT

NEXTBio Capital Management LP bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 95,819 shares of the technology company’s stock, valued at approximately $3,403,000. Cogent Biosciences makes up approximately 2.0% of NEXTBio Capital Management LP’s holdings, making the stock its 18th biggest holding. NEXTBio Capital Management LP owned approximately 0.07% of Cogent Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC increased its stake in shares of Cogent Biosciences by 4.9% in 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 stake 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 valued at $77,000 after buying an additional 300 shares in the last quarter. Optimize Financial Inc increased its stake 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 valued at $1,173,000 after buying an additional 472 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Cogent Biosciences by 35.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after buying an additional 488 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Cogent Biosciences by 2.2% in 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 buying an additional 527 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COGT. HC Wainwright raised their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group began coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 target price for the company. Piper Sandler raised their target price on Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $33.10 on Friday. The business’s 50-day simple moving average is $34.62 and its 200 day simple moving average is $36.58. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -15.25 and a beta of 0.34. Cogent Biosciences, Inc. has a 12-month low of $6.88 and a 12-month high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results 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, research analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current 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.