Walleye Capital LLC Buys 379,465 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Walleye Capital LLC increased its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 68.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 936,791 shares of the technology company's stock after acquiring an additional 379,465 shares during the quarter. Walleye Capital LLC owned about 0.85% of Cogent Biosciences worth $7,307,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Cogent Biosciences in the fourth quarter valued at about $88,000. E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences during the fourth quarter worth approximately $89,000. Proficio Capital Partners LLC bought a new stake in shares of Cogent Biosciences during the fourth quarter worth approximately $93,000. Teacher Retirement System of Texas grew its position in shares of Cogent Biosciences by 15.4% in the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock valued at $140,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Cogent Biosciences during the 3rd quarter worth approximately $147,000.

Cogent Biosciences Price Performance

Shares of COGT stock traded down $0.04 on Monday, hitting $4.33. 159,225 shares of the company's stock were exchanged, compared to its average volume of 1,262,923. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $12.61. The company has a 50 day moving average of $6.46 and a 200 day moving average of $8.39. The stock has a market cap of $492.86 million, a P/E ratio of -1.75 and a beta of 1.67.

Analysts Set New Price Targets

Several research analysts have weighed in on COGT shares. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Robert W. Baird lowered 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. HC Wainwright cut their price target 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. Scotiabank initiated coverage on Cogent Biosciences in a report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price objective for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.