Cogent Biosciences, Inc. (NASDAQ:COGT) Stake Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,863 shares of the technology company’s stock after selling 8,354 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Cogent Biosciences worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock worth $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. FMR LLC increased its holdings in Cogent Biosciences by 8.1% in the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after buying an additional 625,743 shares during the last quarter. Deerfield Management Company L.P. Series C raised its position in Cogent Biosciences by 144.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after acquiring an additional 2,209,918 shares in the last quarter. Sofinnova Investments Inc. raised its position in Cogent Biosciences by 15.5% during the second quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock valued at $23,379,000 after acquiring an additional 372,515 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cogent Biosciences by 20.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after acquiring an additional 139,096 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wedbush restated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Citigroup raised their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC downgraded Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright reissued a “buy” rating on shares of Cogent Biosciences in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $8.19 on Wednesday. Cogent Biosciences, Inc. has a 52-week low of $4.28 and a 52-week high of $12.61. The company has a market cap of $904.68 million, a P/E ratio of -3.30 and a beta of 1.70. The stock’s 50-day moving average is $10.25 and its 200-day moving average is $9.80.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the business earned ($0.64) earnings per share. As a group, equities analysts predict that Cogent Biosciences, Inc. will post -2.42 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.