Charles Schwab Investment Management Inc. Has $8.92 Million Stock Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 825,793 shares of the technology company’s stock after buying an additional 139,096 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Cogent Biosciences worth $8,919,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Values First Advisors Inc. acquired a new stake in Cogent Biosciences in the 3rd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,104 shares during the period. nVerses Capital LLC bought a new position in Cogent Biosciences in the 3rd quarter valued at about $76,000. Victory Capital Management Inc. bought a new position in Cogent Biosciences in the 3rd quarter valued at about $113,000. Finally, Quest Partners LLC bought a new position in Cogent Biosciences in the 2nd quarter valued at about $89,000.

Analyst Ratings Changes

Several research analysts have recently commented on COGT shares. JPMorgan Chase & Co. raised their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup increased their target price 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. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Robert W. Baird raised their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Cogent Biosciences in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $9.50 on Wednesday. The company has a market cap of $1.05 billion, a P/E ratio of -3.83 and a beta of 1.71. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $12.61. The stock’s fifty day moving average price is $10.49 and its 200-day moving average price is $9.78.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period last year, the firm posted ($0.64) earnings per share. On average, sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.4 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.