Assenagon Asset Management S.A. Sells 133,515 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Assenagon Asset Management S.A. trimmed its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 473,693 shares of the technology company’s stock after selling 133,515 shares during the period. Assenagon Asset Management S.A. owned 0.43% of Cogent Biosciences worth $3,695,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. bought a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 in the last quarter. nVerses Capital LLC bought a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $76,000. Victory Capital Management Inc. bought a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $113,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $134,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Monday, January 13th. HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup raised 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. Finally, Needham & Company LLC lowered Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Trading Up 2.1 %

Shares of NASDAQ:COGT opened at $8.20 on Wednesday. Cogent Biosciences, Inc. has a 1-year low of $4.28 and a 1-year high of $12.61. The firm has a market capitalization of $905.79 million, a PE ratio of -3.31 and a beta of 1.76. The business’s 50 day moving average is $8.52 and its 200-day moving average is $9.68.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the prior year, the business earned ($0.64) earnings per share. On average, sell-side analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

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.