Trexquant Investment LP Has $2.17 Million Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Trexquant Investment LP lifted its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 184.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,523 shares of the technology company's stock after acquiring an additional 179,958 shares during the quarter. Trexquant Investment LP owned approximately 0.25% of Cogent Biosciences worth $2,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Cogent Biosciences by 20.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company's stock worth $8,919,000 after purchasing an additional 139,096 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company's stock worth $337,000 after buying an additional 2,176 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Cogent Biosciences by 8.0% during the third quarter. Wellington Management Group LLP now owns 342,323 shares of the technology company's stock worth $3,697,000 after buying an additional 25,470 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new position in Cogent Biosciences in the third quarter valued at approximately $488,000. Finally, Barclays PLC boosted its stake in Cogent Biosciences by 124.8% in the third quarter. Barclays PLC now owns 175,684 shares of the technology company's stock valued at $1,897,000 after acquiring an additional 97,541 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler raised Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Wedbush restated a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Robert W. Baird cut their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, HC Wainwright reduced their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Three research 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $14.43.

Cogent Biosciences Stock Performance

COGT stock traded up $0.09 during mid-day trading on Monday, hitting $4.35. 124,440 shares of the company were exchanged, compared to its average volume of 1,415,607. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $12.61. The firm's 50 day simple moving average is $6.91 and its 200 day simple moving average is $8.61. The firm has a market cap of $494.68 million, a P/E ratio of -1.75 and a beta of 1.67.

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.