Intech Investment Management LLC Has $442,000 Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Intech Investment Management LLC raised its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 99.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,657 shares of the technology company’s stock after purchasing an additional 28,233 shares during the period. Intech Investment Management LLC’s holdings in Cogent Biosciences were worth $442,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its position in Cogent Biosciences by 2,865.3% during the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after acquiring an additional 932,179 shares in the last quarter. FMR LLC increased its stake in shares of Cogent Biosciences by 8.1% during the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Cogent Biosciences during the 3rd quarter valued at $6,019,000. Geode Capital Management LLC lifted its stake in shares of Cogent Biosciences by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock valued at $24,638,000 after purchasing an additional 300,062 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Cogent Biosciences in the third quarter worth $3,135,000.

Cogent Biosciences Trading Up 3.4 %

Shares of COGT stock opened at $7.40 on Tuesday. The firm has a market capitalization of $842.49 million, a P/E ratio of -2.98 and a beta of 1.80. Cogent Biosciences, Inc. has a 1 year low of $5.73 and a 1 year high of $12.61. The firm’s fifty day simple moving average is $7.97 and its 200 day simple moving average is $9.21.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COGT shares. HC Wainwright reduced their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Piper Sandler raised Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Scotiabank began coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price objective for the company. Finally, Robert W. Baird cut their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.43.

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.