Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 53.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,381 shares of the technology company’s stock after purchasing an additional 23,404 shares during the quarter. ExodusPoint Capital Management LP owned about 0.06% of Cogent Biosciences worth $526,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in COGT. Barclays PLC grew its position in Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after buying an additional 97,541 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cogent Biosciences by 15.1% in the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock valued at $24,638,000 after acquiring an additional 300,062 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Cogent Biosciences by 10.5% during the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after acquiring an additional 2,200 shares during the period. JPMorgan Chase & Co. raised its holdings in Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock worth $700,000 after purchasing an additional 5,720 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Cogent Biosciences by 8.0% in the third quarter. Wellington Management Group LLP now owns 342,323 shares of the technology company’s stock valued at $3,697,000 after purchasing an additional 25,470 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COGT. Robert W. Baird cut their target price on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler upgraded Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Wedbush restated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Scotiabank assumed 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 on the stock. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.43.

Cogent Biosciences Stock Up 6.0 %

Cogent Biosciences stock opened at $4.26 on Friday. The firm has a market capitalization of $485.00 million, a PE ratio of -1.72 and a beta of 1.67. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $12.61. The firm’s 50-day simple moving average is $6.91 and its 200 day simple moving average is $8.62.

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.