Jane Street Group LLC Reduces Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Jane Street Group LLC reduced its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 55.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,863 shares of the technology company's stock after selling 136,681 shares during the quarter. Jane Street Group LLC owned 0.10% of Cogent Biosciences worth $1,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COGT. Values First Advisors Inc. bought a new position in Cogent Biosciences in the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Cogent Biosciences during the 3rd quarter valued at about $76,000. Quest Partners LLC bought a new stake in Cogent Biosciences in the 2nd quarter worth approximately $89,000. Finally, SkyView Investment Advisors LLC boosted its stake in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock worth $105,000 after buying an additional 2,500 shares in the last quarter.

Cogent Biosciences Stock Down 0.4 %

Shares of COGT stock traded down $0.03 during mid-day trading on Monday, reaching $7.71. 1,011,364 shares of the company's stock traded hands, compared to its average volume of 1,453,425. Cogent Biosciences, Inc. has a 12 month low of $4.28 and a 12 month high of $12.61. The company has a market cap of $851.66 million, a P/E ratio of -3.11 and a beta of 1.70. The company's 50-day moving average price is $9.68 and its 200-day moving average price is $9.75.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced 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 last year, the company earned ($0.64) EPS. Equities analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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. HC Wainwright reissued a "buy" rating on shares of Cogent Biosciences in a research note on Wednesday, December 11th. Wedbush reaffirmed a "neutral" rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC cut shares of Cogent Biosciences from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

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.