nVerses Capital LLC Purchases Shares of 7,000 Cogent Biosciences, Inc. (NASDAQ:COGT)

nVerses Capital LLC acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,000 shares of the technology company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after acquiring an additional 7,020 shares during the period. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the 2nd quarter worth about $89,000. 49 Wealth Management LLC boosted its stake in shares of Cogent Biosciences by 20.5% during the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after purchasing an additional 2,236 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after buying an additional 2,500 shares during the period. Finally, ProShare Advisors LLC raised its stake in Cogent Biosciences by 15.3% in the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after buying an additional 2,953 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. HC Wainwright reduced their target price on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird raised their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Finally, Citigroup increased their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $11.86 on Tuesday. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $12.14. The company has a market cap of $1.13 billion, a P/E ratio of -4.78 and a beta of 1.71. The stock’s fifty day moving average price is $10.63 and its 200-day moving average price is $8.99.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter in the previous year, the firm earned ($0.59) EPS. On average, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current 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.