Franklin Resources Inc. Boosts Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Franklin Resources Inc. boosted its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,283,673 shares of the technology company's stock after acquiring an additional 283,506 shares during the period. Franklin Resources Inc. owned about 1.16% of Cogent Biosciences worth $10,013,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Cogent Biosciences by 2,865.3% during the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company's stock worth $7,525,000 after buying an additional 932,179 shares during the period. Vanguard Group Inc. raised 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 valued at $47,840,000 after buying an additional 418,975 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cogent Biosciences by 466.6% during the fourth quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company's stock worth $3,627,000 after buying an additional 382,882 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company's stock worth $24,638,000 after buying an additional 300,062 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Cogent Biosciences by 20.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company's stock valued at $8,919,000 after acquiring an additional 139,096 shares during the period.

Analyst Ratings Changes

Several equities analysts have issued reports on COGT shares. Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Piper Sandler raised Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Scotiabank assumed coverage on Cogent Biosciences in a research note on Friday, March 7th. They set a "sector outperform" rating and a $17.00 target price for the company. Wedbush restated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Finally, HC Wainwright reduced their target price on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cogent Biosciences has an average rating of "Moderate Buy" and a consensus target price of $14.43.

Cogent Biosciences Price Performance

Cogent Biosciences stock traded up $0.09 during mid-day trading on Monday, hitting $4.35. 98,433 shares of the company were exchanged, compared to its average volume of 1,259,340. Cogent Biosciences, Inc. has a 12-month low of $3.72 and a 12-month high of $12.61. The business's 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $8.61. The company has a market capitalization of $494.68 million, a P/E ratio of -1.75 and a beta of 1.67.

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.