Persistent Asset Partners Ltd Raises Holdings in Cogent Biosciences, Inc. $COGT

Persistent Asset Partners Ltd lifted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 107.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,499 shares of the technology company’s stock after acquiring an additional 24,553 shares during the period. Cogent Biosciences accounts for approximately 0.8% of Persistent Asset Partners Ltd’s holdings, making the stock its 28th biggest holding. Persistent Asset Partners Ltd’s holdings in Cogent Biosciences were worth $1,687,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. CWM LLC grew its stake in shares of Cogent Biosciences by 4.9% during the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after acquiring an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Cogent Biosciences by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after acquiring an additional 300 shares during the last quarter. Optimize Financial Inc grew its stake in shares of Cogent Biosciences by 1.4% during the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after acquiring an additional 472 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after acquiring an additional 488 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after acquiring an additional 527 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Jefferies Financial Group started coverage on Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 target price for the company. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a report on Thursday, February 19th. HC Wainwright lifted their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Cogent Biosciences Trading Down 0.3%

Cogent Biosciences stock opened at $33.07 on Wednesday. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 52 week low of $6.92 and a 52 week high of $43.73. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of -15.24 and a beta of 0.34. The stock has a 50-day moving average price of $34.53 and a 200 day moving average price of $36.47.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). Sell-side analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Cogent Biosciences Profile

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.