Silverarc Capital Management LLC Trims Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Silverarc Capital Management LLC reduced its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 921,137 shares of the technology company's stock after selling 300,225 shares during the quarter. Cogent Biosciences makes up approximately 1.6% of Silverarc Capital Management LLC's investment portfolio, making the stock its 21st biggest position. Silverarc Capital Management LLC owned approximately 0.83% of Cogent Biosciences worth $7,185,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Cogent Biosciences by 99.2% in the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock valued at $129,240,000 after acquiring an additional 8,249,845 shares in the last quarter. SG Americas Securities LLC grew its stake 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 valued at $7,525,000 after acquiring an additional 932,179 shares in the last quarter. Springhill Fund Asset Management HK Co Ltd bought a new stake in Cogent Biosciences in the 4th quarter valued at $4,279,000. Vanguard Group Inc. boosted its holdings in shares of Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock valued at $47,840,000 after purchasing an additional 418,975 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Cogent Biosciences by 466.6% in the fourth quarter. Alliancebernstein L.P. now owns 464,942 shares of the technology company's stock worth $3,627,000 after purchasing an additional 382,882 shares during the last quarter.

Cogent Biosciences Trading Up 0.9 %

Shares of NASDAQ COGT opened at $4.51 on Friday. The company's 50-day moving average price is $6.17 and its 200 day moving average price is $8.25. The stock has a market cap of $513.46 million, a price-to-earnings ratio of -1.82 and a beta of 1.67. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. HC Wainwright lowered their price objective on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Robert W. Baird dropped their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Scotiabank started coverage on Cogent Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Wedbush reissued a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $14.43.

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.