JPMorgan Chase & Co. Buys 5,720 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

JPMorgan Chase & Co. boosted its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,828 shares of the technology company’s stock after purchasing an additional 5,720 shares during the period. JPMorgan Chase & Co. owned 0.06% of Cogent Biosciences worth $700,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of COGT. Cubist Systematic Strategies LLC boosted its holdings in shares of Cogent Biosciences by 34.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,660 shares of the technology company’s stock valued at $1,135,000 after buying an additional 34,655 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Cogent Biosciences by 14.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,752 shares of the technology company’s stock worth $301,000 after acquiring an additional 4,528 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Cogent Biosciences by 56.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 10,470,398 shares of the technology company’s stock valued at $88,265,000 after acquiring an additional 3,794,150 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Cogent Biosciences in the 3rd quarter valued at about $351,000.

Cogent Biosciences Trading Down 6.1 %

Shares of NASDAQ COGT opened at $8.35 on Monday. The firm has a market cap of $922.34 million, a P/E ratio of -3.37 and a beta of 1.76. The business’s 50 day moving average is $8.45 and its 200-day moving average is $9.67. Cogent Biosciences, Inc. has a 1-year low of $4.28 and a 1-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 for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the company posted ($0.64) earnings per share. Analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Cogent Biosciences

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.