EntryPoint Capital LLC Takes Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

EntryPoint Capital LLC acquired a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,346 shares of the technology company’s stock, valued at approximately $408,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in Cogent Biosciences in the 4th quarter worth approximately $88,000. E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences in the fourth quarter worth $89,000. Proficio Capital Partners LLC purchased a new stake in Cogent Biosciences during the fourth quarter valued at $93,000. Victory Capital Management Inc. bought a new position in Cogent Biosciences in the third quarter valued at about $113,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Cogent Biosciences in the third quarter worth about $134,000.

Cogent Biosciences Stock Down 6.8 %

Shares of Cogent Biosciences stock opened at $6.90 on Wednesday. Cogent Biosciences, Inc. has a 52 week low of $5.79 and a 52 week high of $12.61. The stock’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $9.18. The company has a market capitalization of $785.57 million, a price-to-earnings ratio of -2.78 and a beta of 1.80.

Analysts Set New Price Targets

Several research firms have recently commented on COGT. Scotiabank started coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price target for the company. HC Wainwright decreased their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Wedbush reissued a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Three 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.43.

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.