Charles Schwab Investment Management Inc. Boosts Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Charles Schwab Investment Management Inc. grew its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 833,155 shares of the technology company’s stock after purchasing an additional 7,362 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.75% of Cogent Biosciences worth $6,499,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COGT. Verition Fund Management LLC raised its position in Cogent Biosciences by 7.5% in the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after acquiring an additional 2,176 shares during the period. New York State Common Retirement Fund raised its holdings 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 worth $180,000 after purchasing an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cogent Biosciences by 11.3% in the 4th 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 period. JPMorgan Chase & Co. lifted its stake in Cogent Biosciences by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock valued at $700,000 after purchasing an additional 5,720 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Cogent Biosciences in the third quarter valued at approximately $113,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COGT shares. HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Scotiabank initiated coverage on Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective on the stock. Robert W. Baird cut their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Finally, Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.43.

Cogent Biosciences Stock Up 3.4 %

COGT stock opened at $7.40 on Tuesday. The stock has a 50-day simple moving average of $7.97 and a two-hundred day simple moving average of $9.21. Cogent Biosciences, Inc. has a twelve month low of $5.73 and a twelve month high of $12.61. The firm has a market capitalization of $842.49 million, a PE ratio of -2.98 and a beta of 1.80.

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.