Eventide Asset Management LLC Decreases Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Eventide Asset Management LLC lessened its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 34.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 919,635 shares of the technology company's stock after selling 479,357 shares during the quarter. Eventide Asset Management LLC owned about 0.84% of Cogent Biosciences worth $9,932,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COGT. Values First Advisors Inc. purchased a new position in Cogent Biosciences during the 3rd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock worth $43,000 after acquiring an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company's stock valued at $67,000 after acquiring an additional 7,020 shares during the period. nVerses Capital LLC acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at $76,000. Finally, Quest Partners LLC purchased a new stake in Cogent Biosciences in the 2nd quarter valued at $89,000.

Cogent Biosciences Price Performance

Shares of COGT stock traded down $0.07 during trading hours on Friday, reaching $9.51. 945,708 shares of the company's stock were exchanged, compared to its average volume of 1,424,815. The company's 50 day moving average is $10.71 and its two-hundred day moving average is $9.68. The company has a market cap of $1.05 billion, a P/E ratio of -3.83 and a beta of 1.72. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $12.61.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wedbush reissued a "neutral" rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th. HC Wainwright reissued a "buy" rating and set a $17.00 price target on shares of Cogent Biosciences in a report on Monday, November 4th. Citigroup boosted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences has an average 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.