Cinctive Capital Management LP Raises Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Cinctive Capital Management LP raised its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 91.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 0.30% of Cogent Biosciences worth $3,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock worth $43,000 after buying an additional 1,104 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Cogent Biosciences by 7.5% in the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company's stock valued at $337,000 after purchasing an additional 2,176 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Cogent Biosciences by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock valued at $105,000 after purchasing an additional 2,500 shares during the last quarter. Values First Advisors Inc. purchased a new position in Cogent Biosciences in the 3rd quarter worth $32,000. Finally, Creative Planning lifted its stake in Cogent Biosciences by 29.6% in the third quarter. Creative Planning now owns 14,324 shares of the technology company's stock worth $155,000 after purchasing an additional 3,272 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COGT shares. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Needham & Company LLC lowered their price objective on Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Robert W. Baird raised their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, September 5th. HC Wainwright reiterated a "buy" rating and set a $17.00 price target on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, Wedbush reissued a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences has an average rating of "Moderate Buy" and a consensus price target of $14.83.

Cogent Biosciences Stock Down 3.7 %

Shares of Cogent Biosciences stock traded down $0.35 on Tuesday, reaching $9.12. The company's stock had a trading volume of 858,648 shares, compared to its average volume of 1,420,103. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.71 and a beta of 1.71. The firm's fifty day simple moving average is $10.71 and its two-hundred day simple moving average is $9.71. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its 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 quarter in the prior year, the firm posted ($0.64) EPS. As a group, research 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.