Barclays PLC Boosts Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

Barclays PLC raised its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 124.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,684 shares of the technology company’s stock after acquiring an additional 97,541 shares during the quarter. Barclays PLC owned approximately 0.16% of Cogent Biosciences worth $1,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its stake in Cogent Biosciences by 124.5% in the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. Sofinnova Investments Inc. lifted its position in shares of Cogent Biosciences by 15.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock valued at $23,379,000 after buying an additional 372,515 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cogent Biosciences by 20.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after buying an additional 139,096 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Cogent Biosciences by 144.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock worth $31,564,000 after acquiring an additional 2,209,918 shares during the period. Finally, Quest Partners LLC purchased a new stake in Cogent Biosciences in the 2nd quarter worth about $89,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $7.87 on Friday. The firm has a fifty day moving average price of $9.76 and a two-hundred day moving average price of $9.74. The company has a market cap of $869.34 million, a price-to-earnings ratio of -3.17 and a beta of 1.71. Cogent Biosciences, Inc. has a one year low of $4.28 and a one year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted 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 prior year, the company earned ($0.64) earnings per share. Equities research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on COGT. JPMorgan Chase & Co. upped their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Robert W. Baird raised their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. Finally, Citigroup lifted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.