Bank of New York Mellon Corp Has $2.02 Million Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

Bank of New York Mellon Corp lessened its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 258,766 shares of the technology company’s stock after selling 4,812 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cogent Biosciences were worth $2,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COGT. Victory Capital Management Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $113,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $134,000. Virtu Financial LLC purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $147,000. New York State Common Retirement Fund boosted its stake in shares of Cogent Biosciences by 10.5% in the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after buying an additional 2,200 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Cogent Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock worth $183,000 after buying an additional 2,371 shares during the last quarter.

Cogent Biosciences Trading Down 1.8 %

Cogent Biosciences stock opened at $7.16 on Friday. Cogent Biosciences, Inc. has a 12 month low of $5.73 and a 12 month high of $12.61. The business’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $9.26. The company has a market cap of $815.17 million, a price-to-earnings ratio of -2.89 and a beta of 1.81.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COGT. Robert W. Baird cut their target price on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Wedbush restated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Scotiabank started coverage on Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective on the stock. Finally, HC Wainwright dropped their price objective on 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 analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.43.

Cogent Biosciences Company 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.