Y Intercept Hong Kong Ltd Increases Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Y Intercept Hong Kong Ltd boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 137.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,037 shares of the technology company's stock after buying an additional 43,472 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.07% of Cogent Biosciences worth $585,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Cogent Biosciences in the 3rd quarter worth about $113,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $134,000. Virtu Financial LLC bought a new stake in Cogent Biosciences during the third quarter worth about $147,000. Finally, Creative Planning increased its position in Cogent Biosciences by 29.6% during the 3rd quarter. Creative Planning now owns 14,324 shares of the technology company's stock valued at $155,000 after buying an additional 3,272 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on COGT. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Wedbush reiterated a "neutral" rating and set a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. HC Wainwright reduced their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird decreased their price target on Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

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Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded up $0.50 during midday trading on Wednesday, reaching $7.67. 1,309,510 shares of the stock traded hands, compared to its average volume of 1,261,724. The company's 50 day moving average is $8.13 and its 200 day moving average is $9.51. Cogent Biosciences, Inc. has a one year low of $5.73 and a one year high of $12.61. The stock has a market capitalization of $873.23 million, a PE ratio of -3.09 and a beta of 1.81.

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.