Persistent Asset Partners Ltd Increases Stake in Cogent Biosciences, Inc. $COGT

Persistent Asset Partners Ltd increased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 107.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,499 shares of the technology company’s stock after buying an additional 24,553 shares during the period. Cogent Biosciences comprises approximately 0.8% of Persistent Asset Partners Ltd’s holdings, making the stock its 28th largest holding. Persistent Asset Partners Ltd’s holdings in Cogent Biosciences were worth $1,687,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COGT. AQR Capital Management LLC increased its stake in shares of Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock valued at $963,000 after buying an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cogent Biosciences by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock valued at $377,000 after buying an additional 3,693 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Cogent Biosciences by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock valued at $5,924,000 after buying an additional 124,069 shares during the period. Jane Street Group LLC increased its stake in shares of Cogent Biosciences by 66.2% during the first quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock valued at $742,000 after buying an additional 49,338 shares during the period. Finally, Strs Ohio purchased a new position in shares of Cogent Biosciences during the first quarter valued at $36,000.

Analyst Ratings Changes

Several brokerages have recently commented on COGT. Robert W. Baird set a $35.00 price target on Cogent Biosciences in a research note on Thursday, February 19th. Piper Sandler lifted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Jefferies Financial Group started coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, HC Wainwright lifted their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Price Performance

COGT opened at $33.07 on Wednesday. The business’s 50-day moving average is $34.53 and its two-hundred day moving average is $36.47. Cogent Biosciences, Inc. has a 1 year low of $6.92 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The firm has a market capitalization of $5.65 billion, a PE ratio of -15.24 and a beta of 0.34.

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