Fmr LLC Has $89.85 Million Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

FMR LLC raised its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,319,411 shares of the technology company's stock after purchasing an additional 625,743 shares during the period. FMR LLC owned 7.60% of Cogent Biosciences worth $89,850,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cogent Biosciences by 27.1% in the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company's stock valued at $38,746,000 after acquiring an additional 1,231,050 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cogent Biosciences by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company's stock valued at $237,000 after buying an additional 4,030 shares in the last quarter. California State Teachers Retirement System increased its position in Cogent Biosciences by 15.8% during the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company's stock worth $432,000 after purchasing an additional 8,804 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cogent Biosciences during the 2nd quarter worth approximately $1,077,000. Finally, Bank of New York Mellon Corp raised its position in Cogent Biosciences by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company's stock valued at $2,753,000 after purchasing an additional 45,770 shares during the period.

Cogent Biosciences Stock Down 1.1 %

COGT stock traded down $0.10 during trading on Friday, reaching $8.89. 1,833,780 shares of the company's stock were exchanged, compared to its average volume of 1,429,062. The company's fifty day moving average price is $10.58 and its 200-day moving average price is $9.72. The firm has a market cap of $981.99 million, a PE ratio of -3.62 and a beta of 1.70. 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 posted its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the business posted ($0.64) EPS. As a group, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.