Cogent Biosciences, Inc. (NASDAQ:COGT) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC increased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 31,228 shares of the technology company’s stock after purchasing an additional 2,176 shares during the period. Verition Fund Management LLC’s holdings in Cogent Biosciences were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COGT. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences during the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,104 shares during the last quarter. nVerses Capital LLC purchased a new stake in Cogent Biosciences during the 3rd quarter valued at about $76,000. Victory Capital Management Inc. purchased a new stake in Cogent Biosciences during the 3rd quarter valued at about $113,000. Finally, Quest Partners LLC acquired a new stake in Cogent Biosciences in the 2nd quarter valued at about $89,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COGT shares. JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wedbush reissued a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Citigroup upped their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC lowered Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Down 2.3 %

NASDAQ:COGT opened at $8.15 on Friday. Cogent Biosciences, Inc. has a 52 week low of $4.28 and a 52 week high of $12.61. The stock’s fifty day moving average is $10.36 and its two-hundred day moving average is $9.77. The company has a market capitalization of $900.25 million, a P/E ratio of -3.29 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the previous year, the firm posted ($0.64) EPS. Sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current fiscal year.

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.