Alliancebernstein L.P. Has $3.63 Million Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

Alliancebernstein L.P. raised its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 466.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 464,942 shares of the technology company's stock after purchasing an additional 382,882 shares during the quarter. Alliancebernstein L.P. owned approximately 0.42% of Cogent Biosciences worth $3,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in shares of Cogent Biosciences in the fourth quarter valued at about $88,000. E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences during the fourth quarter valued at approximately $89,000. Proficio Capital Partners LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $93,000. Teacher Retirement System of Texas raised its position in Cogent Biosciences by 15.4% in the 4th quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock worth $140,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Cogent Biosciences during the 3rd quarter worth $147,000.

Analyst Ratings Changes

Several research firms recently issued reports on COGT. HC Wainwright decreased their price target on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Scotiabank initiated coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They set a "sector outperform" rating and a $17.00 price target for the company. Robert W. Baird reduced their price objective on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Finally, Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.43.

Cogent Biosciences Price Performance

COGT traded up $0.10 during mid-day trading on Friday, hitting $4.37. The stock had a trading volume of 1,130,426 shares, compared to its average volume of 1,267,301. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $12.61. The firm has a market capitalization of $497.52 million, a price-to-earnings ratio of -1.76 and a beta of 1.67. The stock's fifty day simple moving average is $6.46 and its 200-day simple moving average is $8.41.

About Cogent Biosciences

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.