Fairmount Funds Management LLC Has $129.29 Million Stake in Cogent Biosciences, Inc. $COGT

Fairmount Funds Management LLC boosted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 44.6% during the third quarter, Holdings Channel reports. The institutional investor owned 9,003,418 shares of the technology company’s stock after purchasing an additional 2,777,777 shares during the quarter. Cogent Biosciences comprises approximately 11.6% of Fairmount Funds Management LLC’s portfolio, making the stock its 2nd largest holding. Fairmount Funds Management LLC owned approximately 0.06% of Cogent Biosciences worth $129,289,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 22.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock worth $78,000 after acquiring an additional 1,003 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Cogent Biosciences by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock worth $187,000 after acquiring an additional 1,020 shares in the last quarter. CWM LLC raised its holdings in shares of Cogent Biosciences by 25.3% in the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares in the last quarter.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $34.00 on Monday. The firm has a market capitalization of $5.52 billion, a P/E ratio of -15.74 and a beta of 0.47. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $37.32 and its two-hundred day moving average price is $29.04. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Insider Activity

In related news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total value of $127,400,000.00. Following the completion of the sale, the director directly owned 5,503,418 shares in the company, valued at approximately $200,324,415.20. This trade represents a 38.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Evan Kearns sold 65,000 shares of Cogent Biosciences stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the transaction, the insider owned 109,398 shares of the company’s stock, valued at $4,233,702.60. The trade was a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. Company insiders own 7.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on COGT. Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a report on Thursday, February 19th. Finally, Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.82.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.