Dimensional Fund Advisors LP Sells 463,901 Shares of Cogent Biosciences, Inc. (NASDAQ:COGT)

Dimensional Fund Advisors LP trimmed its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 33.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 930,297 shares of the technology company’s stock after selling 463,901 shares during the period. Dimensional Fund Advisors LP owned 0.97% of Cogent Biosciences worth $7,842,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of COGT. Russell Investments Group Ltd. lifted its position in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences during the second quarter worth about $89,000. 49 Wealth Management LLC increased its stake in shares of Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after purchasing an additional 2,236 shares in the last quarter. Forefront Analytics LLC bought a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $117,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Cogent Biosciences by 100.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 19,950 shares of the technology company’s stock valued at $134,000 after acquiring an additional 9,989 shares in the last quarter.

Analysts Set New Price Targets

COGT has been the topic of several analyst reports. Citigroup lifted their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 7th. HC Wainwright dropped their price target on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Wedbush reissued a “neutral” rating and issued a $11.00 price objective (up 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 shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Cogent Biosciences Price Performance

Shares of COGT opened at $10.74 on Tuesday. The firm has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $8.62. Cogent Biosciences, Inc. has a 1-year low of $3.67 and a 1-year high of $12.14. The stock has a market cap of $1.03 billion, a PE ratio of -4.33 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results 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 quarter last year, the business earned ($0.59) EPS. As a group, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal 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.