Quest Partners LLC Acquires New Stake in Cogent Biosciences, Inc. (NASDAQ:COGT)

Quest Partners LLC bought a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,561 shares of the technology company’s stock, valued at approximately $89,000.

Other large investors have also modified their holdings of the company. Rhumbline Advisers boosted its position in Cogent Biosciences by 9.6% during the second quarter. Rhumbline Advisers now owns 130,516 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 11,383 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Cogent Biosciences by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company’s stock worth $2,753,000 after purchasing an additional 45,770 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Cogent Biosciences during the 2nd quarter worth approximately $1,077,000. Farallon Capital Management LLC grew its position in shares of Cogent Biosciences by 2,617.6% in the first quarter. Farallon Capital Management LLC now owns 462,000 shares of the technology company’s stock valued at $3,105,000 after purchasing an additional 445,000 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Cogent Biosciences by 15.8% in the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company’s stock valued at $432,000 after purchasing an additional 8,804 shares during the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on COGT shares. HC Wainwright dropped their target price on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of 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 increased their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Wedbush restated a “neutral” rating and set a $11.00 price target (up previously from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $10.52 on Wednesday. The firm has a market cap of $1.01 billion, a P/E ratio of -4.24 and a beta of 1.70. The firm’s 50 day moving average price is $9.70 and its 200-day moving average price is $8.25. Cogent Biosciences, Inc. has a one year low of $3.67 and a one year high of $12.14.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period last year, the firm posted ($0.59) earnings per share. As a group, research analysts predict that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.

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.