Seven Fleet Capital Management LP Takes Position in Cogent Biosciences, Inc. $COGT

Seven Fleet Capital Management LP purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,025 shares of the technology company’s stock, valued at approximately $1,919,000. Cogent Biosciences makes up approximately 1.5% of Seven Fleet Capital Management LP’s portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also bought and sold shares of the business. Fairmount Funds Management LLC boosted its holdings in Cogent Biosciences by 44.6% in the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the period. Vanguard Group Inc. increased its holdings in shares of Cogent Biosciences by 18.9% during the third quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock worth $111,400,000 after purchasing an additional 1,234,711 shares during the period. Pier Capital LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $1,643,000. Readystate Asset Management LP acquired a new stake in shares of Cogent Biosciences in the third quarter valued at approximately $714,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Cogent Biosciences by 710.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock valued at $4,232,000 after buying an additional 98,602 shares during the period.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $34.54 on Friday. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -15.92 and a beta of 0.34. The firm’s 50 day simple moving average is $34.48 and its 200 day simple moving average is $36.38. Cogent Biosciences, Inc. has a 1 year low of $6.92 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.53). As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COGT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. Finally, Jefferies Financial Group assumed coverage on Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

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.