Vanguard Group Inc. Increases Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Vanguard Group Inc. increased its stake in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,133,380 shares of the technology company's stock after acquiring an additional 418,975 shares during the period. Vanguard Group Inc. owned about 5.55% of Cogent Biosciences worth $47,840,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Cogent Biosciences during the 4th quarter valued at about $88,000. E Fund Management Co. Ltd. bought a new position in shares of Cogent Biosciences during the 4th quarter valued at $89,000. Proficio Capital Partners LLC purchased a new position in Cogent Biosciences in the 4th quarter worth $93,000. Virtu Financial LLC bought a new stake in Cogent Biosciences in the third quarter worth $147,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Cogent Biosciences by 15.4% during the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock valued at $140,000 after buying an additional 2,396 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on COGT. Scotiabank began coverage on Cogent Biosciences in a research note on Friday, March 7th. They set a "sector outperform" rating and a $17.00 price objective for the company. HC Wainwright cut their price objective on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. 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 Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.43.

Cogent Biosciences Price Performance

COGT stock traded down $0.03 during trading on Thursday, hitting $4.25. 178,746 shares of the stock traded hands, compared to its average volume of 1,437,451. The firm's 50 day moving average is $6.63 and its two-hundred day moving average is $8.51. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $12.61. The stock has a market cap of $483.29 million, a price-to-earnings ratio of -1.71 and a beta of 1.67.

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.