E Fund Management Co. Ltd. Sells 22,135 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

E Fund Management Co. Ltd. lowered its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 66.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,173 shares of the technology company’s stock after selling 22,135 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cogent Biosciences were worth $94,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at approximately $147,000. Dynamic Technology Lab Private Ltd bought a new position in Cogent Biosciences in the 4th quarter valued at $70,000. Trexquant Investment LP boosted its stake in Cogent Biosciences by 88.3% in the fourth quarter. Trexquant Investment LP now owns 77,402 shares of the technology company’s stock worth $455,000 after purchasing an additional 36,294 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Cogent Biosciences in the fourth quarter worth $238,000. Finally, NEOS Investment Management LLC bought a new stake in shares of Cogent Biosciences during the fourth quarter worth $76,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COGT. JPMorgan Chase & Co. reduced their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and set a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. HC Wainwright lowered their price target on shares of 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 restated a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Finally, Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Cogent Biosciences Stock Performance

COGT opened at $10.90 on Friday. The company has a fifty day moving average price of $9.73 and a two-hundred day moving average price of $8.27. The firm has a market capitalization of $1.19 billion, a PE ratio of -4.40 and a beta of 1.70. Cogent Biosciences, Inc. has a 52 week low of $3.67 and a 52 week high of $12.14.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period last year, the business earned ($0.59) earnings per share. Equities analysts forecast that Cogent Biosciences, Inc. will post -2.25 EPS for the current 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.