Walleye Capital LLC Acquires Shares of 557,326 Cogent Biosciences, Inc. (NASDAQ:COGT)

Walleye Capital LLC acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 557,326 shares of the technology company's stock, valued at approximately $6,019,000. Walleye Capital LLC owned about 0.51% of Cogent Biosciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in shares of Cogent Biosciences by 124.5% during the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company's stock valued at $126,335,000 after acquiring an additional 8,310,150 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Cogent Biosciences during the 2nd quarter worth $1,077,000. Sofinnova Investments Inc. lifted its holdings in Cogent Biosciences by 15.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company's stock worth $23,379,000 after buying an additional 372,515 shares during the period. Deerfield Management Company L.P. Series C grew its position in shares of Cogent Biosciences by 144.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company's stock valued at $31,564,000 after buying an additional 2,209,918 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Biosciences in the second quarter valued at about $89,000.

Cogent Biosciences Stock Performance

COGT traded down $0.07 during midday trading on Friday, reaching $9.51. 945,708 shares of the company were exchanged, compared to its average volume of 1,486,396. Cogent Biosciences, Inc. has a one year low of $3.67 and a one year high of $12.61. The company's fifty day moving average price is $10.71 and its 200 day moving average price is $9.69. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -3.83 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings results 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 earned ($0.64) earnings per share. As a group, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on COGT shares. Robert W. Baird upped their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Needham & Company LLC reduced their target price on Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Finally, Citigroup upped their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price 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.