Tema ETFs LLC Acquires 64,898 Shares of Cogent Biosciences, Inc. $COGT

Tema ETFs LLC raised its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 36.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,565 shares of the technology company’s stock after purchasing an additional 64,898 shares during the period. Tema ETFs LLC owned 0.14% of Cogent Biosciences worth $9,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Cogent Biosciences during the first quarter worth about $39,000. Global Retirement Partners LLC bought a new position in shares of Cogent Biosciences during the fourth quarter worth about $37,000. Summit Securities Group LLC acquired a new position in shares of Cogent Biosciences in the first quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares during the period.

Cogent Biosciences Price Performance

Shares of COGT opened at $38.70 on Wednesday. The firm has a market cap of $6.61 billion, a PE ratio of -17.83 and a beta of 0.38. Cogent Biosciences, Inc. has a 52-week low of $10.98 and a 52-week high of $43.73. The business’s 50 day moving average price is $37.65 and its two-hundred day moving average price is $36.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.03. On average, equities analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and an average target price of $45.90.

Cogent Biosciences 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.