Evergreen Quality Fund GP Ltd. Acquires New Position in Cogent Biosciences, Inc. $COGT

Evergreen Quality Fund GP Ltd. bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 250,000 shares of the technology company’s stock, valued at approximately $8,880,000. Evergreen Quality Fund GP Ltd. owned about 0.18% of Cogent Biosciences as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares in the last quarter. Global Retirement Partners LLC bought a new position in Cogent Biosciences in the 4th quarter valued at approximately $37,000. PNC Financial Services Group Inc. boosted its stake in Cogent Biosciences by 414.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,032 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 655 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares in the last quarter.

Cogent Biosciences Stock Performance

COGT stock opened at $33.67 on Thursday. 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 1 year low of $6.92 and a 1 year high of $43.73. The company has a market cap of $5.75 billion, a P/E ratio of -15.52 and a beta of 0.34. The stock’s fifty day moving average price is $34.50 and its 200-day moving average price is $36.42.

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

Wall Street Analysts Forecast Growth

COGT has been the topic of a number of research analyst reports. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a report on Thursday, February 19th. Piper Sandler lifted their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. HC Wainwright raised their price target on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

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.