Bank of Montreal Can Takes $3.14 Million Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Bank of Montreal Can bought a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 287,610 shares of the technology company's stock, valued at approximately $3,135,000. Bank of Montreal Can owned 0.26% of Cogent Biosciences as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Cogent Biosciences by 27.1% in the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company's stock worth $38,746,000 after buying an additional 1,231,050 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Cogent Biosciences by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company's stock worth $237,000 after purchasing an additional 4,030 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Cogent Biosciences by 15.8% in the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company's stock valued at $432,000 after purchasing an additional 8,804 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Cogent Biosciences during the 2nd quarter valued at $1,077,000. Finally, Bank of New York Mellon Corp increased its stake in Cogent Biosciences by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company's stock worth $2,753,000 after buying an additional 45,770 shares during the period.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup raised their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Robert W. Baird lifted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Needham & Company LLC decreased their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Cogent Biosciences in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.83.

Cogent Biosciences Trading Down 2.4 %

NASDAQ COGT traded down $0.22 during trading hours on Thursday, reaching $8.99. The company's stock had a trading volume of 1,632,779 shares, compared to its average volume of 1,427,340. The business has a 50-day simple moving average of $10.62 and a 200 day simple moving average of $9.73. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $12.61. The stock has a market cap of $993.04 million, a PE ratio of -3.71 and a beta of 1.70.

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

Cogent Biosciences 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.