Forefront Analytics LLC Sells 3,648 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Forefront Analytics LLC reduced its stake in Cogent Biosciences, Inc. (NASDAQ:COGT) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,627 shares of the technology company’s stock after selling 3,648 shares during the period. Forefront Analytics LLC’s holdings in Cogent Biosciences were worth $132,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COGT. Russell Investments Group Ltd. boosted its holdings in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after acquiring an additional 7,020 shares during the period. NEOS Investment Management LLC purchased a new stake in shares of Cogent Biosciences in the fourth quarter worth $76,000. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the second quarter worth $89,000. 49 Wealth Management LLC raised its position in shares of Cogent Biosciences by 20.5% in the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after buying an additional 2,236 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after buying an additional 2,500 shares in the last quarter.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $10.90 on Friday. The stock’s 50-day simple moving average is $9.98 and its two-hundred day simple moving average is $8.47. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.14. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.40 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter last year, the firm posted ($0.59) earnings per share. On average, equities analysts expect that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COGT has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. HC Wainwright lowered their price objective on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Cogent Biosciences Company 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.