EntryPoint Capital LLC Takes $408,000 Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

EntryPoint Capital LLC purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 52,346 shares of the technology company's stock, valued at approximately $408,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Cogent Biosciences by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock worth $47,840,000 after acquiring an additional 418,975 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the 4th quarter worth approximately $88,000. Quantbot Technologies LP acquired a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $169,000. Teacher Retirement System of Texas lifted 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 valued at $140,000 after acquiring an additional 2,396 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Cogent Biosciences by 99.3% in the 4th quarter. Intech Investment Management LLC now owns 56,657 shares of the technology company's stock worth $442,000 after purchasing an additional 28,233 shares during the period.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT traded down $0.13 during midday trading on Friday, hitting $6.48. 1,852,395 shares of the stock were exchanged, compared to its average volume of 1,238,498. Cogent Biosciences, Inc. has a 12 month low of $5.88 and a 12 month high of $12.61. The stock has a market capitalization of $737.75 million, a price-to-earnings ratio of -2.61 and a beta of 1.80. The business's 50-day moving average price is $7.87 and its 200 day moving average price is $9.11.

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Wall Street Analyst Weigh In

Several research firms have recently commented on COGT. Scotiabank started coverage on Cogent Biosciences in a report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price objective for the company. HC Wainwright decreased their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lowered 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. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.43.

Cogent Biosciences Company 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.