Cinctive Capital Management LP Buys 157,969 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Cinctive Capital Management LP increased its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 91.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,419 shares of the technology company’s stock after purchasing an additional 157,969 shares during the quarter. Cinctive Capital Management LP owned approximately 0.30% of Cogent Biosciences worth $3,569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Verition Fund Management LLC increased its holdings in shares of Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after buying an additional 2,176 shares in the last quarter. Walleye Capital LLC bought a new stake in Cogent Biosciences during the 3rd quarter worth $6,019,000. FMR LLC increased its holdings in Cogent Biosciences by 8.1% in the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares in the last quarter. Bank of Montreal Can bought a new position in Cogent Biosciences in the third quarter valued at about $3,135,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cogent Biosciences during the third quarter valued at about $134,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Citigroup upped their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC cut their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Cogent Biosciences Trading Down 0.4 %

COGT opened at $9.47 on Tuesday. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.61. The company has a fifty day moving average of $10.71 and a 200-day moving average of $9.71.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period in the previous year, the business posted ($0.64) earnings per share. As a group, analysts forecast that Cogent Biosciences, Inc. will post -2.4 EPS for the current year.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.