State Street Corp Reduces Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

State Street Corp lessened its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,231,462 shares of the technology company's stock after selling 605,500 shares during the period. State Street Corp owned approximately 2.95% of Cogent Biosciences worth $34,900,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Cinctive Capital Management LP raised its holdings in shares of Cogent Biosciences by 91.6% in the third quarter. Cinctive Capital Management LP now owns 330,419 shares of the technology company's stock worth $3,569,000 after buying an additional 157,969 shares during the last quarter. Verition Fund Management LLC raised its stake in Cogent Biosciences by 7.5% in the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company's stock worth $337,000 after acquiring an additional 2,176 shares during the last quarter. Walleye Capital LLC purchased a new position in Cogent Biosciences in the 3rd quarter worth $6,019,000. FMR LLC lifted its position in Cogent Biosciences by 8.1% during the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company's stock worth $89,850,000 after acquiring an additional 625,743 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Cogent Biosciences during the 3rd quarter valued at about $3,135,000.

Cogent Biosciences Stock Up 0.5 %

Shares of NASDAQ:COGT traded up $0.04 during trading on Friday, reaching $7.84. 2,668,265 shares of the company's stock traded hands, compared to its average volume of 1,464,145. The firm has a market cap of $866.02 million, a PE ratio of -3.16 and a beta of 1.70. Cogent Biosciences, Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $12.61. The company has a 50-day simple moving average of $10.06 and a 200-day simple moving average of $9.77.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the firm posted ($0.64) earnings per share. On average, equities research analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COGT shares. Citigroup upped their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Needham & Company LLC cut shares of Cogent Biosciences from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Wedbush reaffirmed a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.83.

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.