Proficio Capital Partners LLC Invests $93,000 in Cogent Biosciences, Inc. (NASDAQ:COGT)

Proficio Capital Partners LLC bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,895 shares of the technology company’s stock, valued at approximately $93,000.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in shares of Cogent Biosciences during the 3rd quarter valued at approximately $113,000. Dynamic Technology Lab Private Ltd acquired a new stake in Cogent Biosciences in the third quarter valued at $134,000. Virtu Financial LLC bought a new position in Cogent Biosciences during the 3rd quarter valued at $147,000. New York State Common Retirement Fund raised its stake in shares of Cogent Biosciences by 10.5% in the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after purchasing an additional 2,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Cogent Biosciences by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock worth $183,000 after purchasing an additional 2,371 shares during the last quarter.

Cogent Biosciences Stock Down 4.0 %

Shares of NASDAQ COGT opened at $7.29 on Friday. The stock has a market cap of $829.97 million, a P/E ratio of -2.94 and a beta of 1.80. The firm’s 50-day simple moving average is $8.07 and its 200 day simple moving average is $9.39. Cogent Biosciences, Inc. has a fifty-two week low of $5.73 and a fifty-two week high of $12.61.

Wall Street Analysts Forecast Growth

COGT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Robert W. Baird reduced their price objective on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Finally, Scotiabank started coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.43.

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.