548,554 Shares in Cogent Biosciences, Inc. (NASDAQ:COGT) Bought by Springhill Fund Asset Management HK Co Ltd

Springhill Fund Asset Management HK Co Ltd bought a new position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 548,554 shares of the technology company's stock, valued at approximately $4,279,000. Cogent Biosciences comprises 6.9% of Springhill Fund Asset Management HK Co Ltd's holdings, making the stock its 7th largest holding. Springhill Fund Asset Management HK Co Ltd owned approximately 0.50% of Cogent Biosciences at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Cogent Biosciences by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock worth $47,840,000 after purchasing an additional 418,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cogent Biosciences by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,308,509 shares of the technology company's stock worth $18,011,000 after purchasing an additional 27,716 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Cogent Biosciences by 28.3% in the fourth quarter. Franklin Resources Inc. now owns 1,283,673 shares of the technology company's stock worth $10,013,000 after buying an additional 283,506 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cogent Biosciences by 2,865.3% in the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company's stock valued at $7,525,000 after purchasing an additional 932,179 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Cogent Biosciences by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 833,155 shares of the technology company's stock valued at $6,499,000 after buying an additional 7,362 shares during the period.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock traded up $0.08 during trading on Friday, hitting $4.10. The stock had a trading volume of 259,271 shares, compared to its average volume of 1,260,241. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $12.61. The firm's fifty day simple moving average is $7.01 and its 200-day simple moving average is $8.67. The stock has a market cap of $467.24 million, a PE ratio of -1.66 and a beta of 1.67.

Analysts Set New Price Targets

A number of brokerages have weighed in on COGT. Robert W. Baird decreased their target price on Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Scotiabank assumed coverage on shares of 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, Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cogent Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.43.

About Cogent Biosciences

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.