Jefferies Financial Group Inc. Takes $2.67 Million Position in Cogent Biosciences, Inc. $COGT

Jefferies Financial Group Inc. bought a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 75,112 shares of the technology company’s stock, valued at approximately $2,668,000. Jefferies Financial Group Inc. owned approximately 0.05% of Cogent Biosciences at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fairmount Funds Management LLC boosted its holdings in shares of Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after buying an additional 2,777,777 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Cogent Biosciences by 4,661,150.0% during the 3rd quarter. Federated Hermes Inc. now owns 93,225 shares of the technology company’s stock valued at $1,339,000 after buying an additional 93,223 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cogent Biosciences by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock valued at $111,400,000 after buying an additional 1,234,711 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of Cogent Biosciences by 123.3% during the 3rd quarter. Candriam S.C.A. now owns 954,209 shares of the technology company’s stock valued at $13,702,000 after buying an additional 526,867 shares in the last quarter. Finally, Optimize Financial Inc bought a new stake in shares of Cogent Biosciences during the 3rd quarter valued at $467,000.

Analysts Set New Price Targets

A number of analysts have recently commented on COGT shares. Piper Sandler boosted their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. HC Wainwright boosted their target price on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Robert W. Baird set a $35.00 target price on shares of Cogent Biosciences in a report on Thursday, February 19th. Finally, Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $33.94 on Wednesday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -15.64 and a beta of 0.37. The firm’s 50-day moving average is $35.29 and its 200 day moving average is $36.44. Cogent Biosciences, Inc. has a 1 year low of $4.80 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). Sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.23 EPS for the current fiscal year.

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.