Cogent Biosciences, Inc. $COGT Stake Lifted by Candriam S.C.A.

Candriam S.C.A. boosted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 123.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954,209 shares of the technology company’s stock after buying an additional 526,867 shares during the period. Candriam S.C.A.’s holdings in Cogent Biosciences were worth $13,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COGT. Osaic Holdings Inc. grew its position in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cogent Biosciences by 22.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the period. CWM LLC grew its position in Cogent Biosciences by 25.3% in the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,126 shares during the last quarter. Strs Ohio acquired a new stake in shares of Cogent Biosciences in the first quarter valued at approximately $36,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Cogent Biosciences by 16.6% during the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after buying an additional 1,543 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $37.77 on Wednesday. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of -23.03 and a beta of 0.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $43.73. The stock’s 50 day moving average price is $38.00 and its 200 day moving average price is $24.88.

Insider Transactions at Cogent Biosciences

In other news, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the sale, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total value of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. This represents a 38.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,737,642 shares of company stock worth $136,600,345 over the last 90 days. 7.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Robert W. Baird boosted their price target on Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. Finally, Stifel Nicolaus upgraded shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.55.

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.