Diadema Partners LP Buys Shares of 90,000 Cogent Biosciences, Inc. (NASDAQ:COGT)

Diadema Partners LP acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 90,000 shares of the technology company's stock, valued at approximately $702,000. Diadema Partners LP owned 0.08% of Cogent Biosciences as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences during the 4th quarter worth $81,000. KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the fourth quarter worth about $88,000. E Fund Management Co. Ltd. purchased a new position in shares of Cogent Biosciences in the 4th quarter worth about $89,000. Proficio Capital Partners LLC acquired a new position in shares of Cogent Biosciences in the 4th quarter valued at about $93,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cogent Biosciences by 1,911.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,167 shares of the technology company's stock worth $95,000 after purchasing an additional 11,562 shares during the period.

Cogent Biosciences Trading Up 0.9 %

Cogent Biosciences stock opened at $4.51 on Friday. The stock has a market cap of $513.46 million, a price-to-earnings ratio of -1.82 and a beta of 1.67. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61. The company's 50-day moving average price is $6.17 and its two-hundred day moving average price is $8.25.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COGT shares. Robert W. Baird decreased their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Wedbush reiterated a "neutral" rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Scotiabank began coverage on Cogent Biosciences in a report on Friday, March 7th. They set a "sector outperform" rating and a $17.00 target price on the stock. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.43.

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.