Cogent Biosciences, Inc. $COGT Shares Acquired by Fairmount Funds Management LLC

Fairmount Funds Management LLC raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 44.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,003,418 shares of the technology company’s stock after buying an additional 2,777,777 shares during the quarter. Cogent Biosciences accounts for about 11.6% of Fairmount Funds Management LLC’s portfolio, making the stock its 2nd largest position. Fairmount Funds Management LLC owned approximately 6.32% of Cogent Biosciences worth $129,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 worth $78,000 after buying an additional 1,003 shares during the period. ProShare Advisors LLC raised its position in shares of Cogent Biosciences by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock valued at $187,000 after acquiring an additional 1,020 shares during the period. CWM LLC raised its position in shares of Cogent Biosciences by 25.3% in the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,126 shares during the period. Osaic Holdings Inc. boosted its stake in Cogent Biosciences by 41.4% during the 2nd 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. Finally, Ameritas Investment Partners Inc. grew its holdings in 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 purchasing an additional 1,543 shares during the period.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $34.00 on Monday. The business has a 50 day simple moving average of $37.32 and a 200 day simple moving average of $29.04. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $43.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of -15.74 and a beta of 0.47.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). Analysts anticipate that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COGT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Piper Sandler lifted their price target on shares of Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Robert W. Baird set a $35.00 price target on shares of Cogent Biosciences in a report on Thursday, February 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Wednesday, January 21st. Two 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.82.

Insider Activity at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the firm’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the sale, the insider directly owned 109,398 shares in the company, valued at $4,233,702.60. This trade represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the completion of the sale, the director directly owned 5,503,418 shares in the company, valued at $200,324,415.20. This represents a 38.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. Insiders own 7.29% of the company’s stock.

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.