Cogent Biosciences, Inc. (NASDAQ:COGT) Stake Lowered by HighVista Strategies LLC

HighVista Strategies LLC lessened its position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 19.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 225,633 shares of the technology company's stock after selling 55,460 shares during the period. HighVista Strategies LLC owned approximately 0.21% of Cogent Biosciences worth $2,437,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Cogent Biosciences during the third quarter worth about $76,000. Victory Capital Management Inc. acquired a new position in shares of Cogent Biosciences in the third quarter valued at approximately $113,000. Finally, Quest Partners LLC purchased a new position in shares of Cogent Biosciences during the second quarter valued at approximately $89,000.

Cogent Biosciences Trading Down 3.0 %

COGT stock traded down $0.28 during mid-day trading on Tuesday, hitting $9.19. 2,226,619 shares of the company were exchanged, compared to its average volume of 1,426,180. The company has a market capitalization of $1.02 billion, a PE ratio of -3.71 and a beta of 1.70. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.61. The firm has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $9.72.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.07). During the same period in the prior year, the company earned ($0.64) earnings per share. As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Wedbush reissued a "neutral" rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Needham & Company LLC dropped their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Robert W. Baird upped their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Finally, Citigroup lifted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cogent Biosciences currently 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.