Hennion & Walsh Asset Management Inc. Boosts Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

Hennion & Walsh Asset Management Inc. grew its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 60.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,292 shares of the technology company's stock after purchasing an additional 103,293 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.25% of Cogent Biosciences worth $2,147,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Values First Advisors Inc. purchased a new position in Cogent Biosciences during the 3rd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $43,000 after purchasing an additional 1,104 shares in the last quarter. nVerses Capital LLC purchased a new position in Cogent Biosciences during the third quarter worth about $76,000. SkyView Investment Advisors LLC grew its position in Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock worth $105,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Cogent Biosciences in the 3rd quarter valued at about $113,000.

Cogent Biosciences Stock Performance

COGT stock traded down $0.10 during midday trading on Friday, reaching $8.03. 1,160,414 shares of the company's stock traded hands, compared to its average volume of 1,050,552. The firm has a market capitalization of $886.99 million, a PE ratio of -3.24 and a beta of 1.76. The company has a 50-day moving average price of $8.61 and a two-hundred day moving average price of $9.67. Cogent Biosciences, Inc. has a 52 week low of $4.28 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the company posted ($0.64) earnings per share. As a group, analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on COGT shares. Needham & Company LLC lowered Cogent Biosciences from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. HC Wainwright decreased their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup upped their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Wedbush reissued a "neutral" rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cogent Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $14.33.

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.