Y Intercept Hong Kong Ltd Sells 60,045 Shares of Cogent Biosciences, Inc. $COGT

Y Intercept Hong Kong Ltd decreased its stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 63.3% during the first quarter, HoldingsChannel.com reports. The fund owned 34,759 shares of the technology company’s stock after selling 60,045 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Cogent Biosciences were worth $1,338,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COGT. Vanguard Group Inc. grew its holdings in Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the last quarter. Deerfield Management Company L.P. boosted its holdings in shares of Cogent Biosciences by 242.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after buying an additional 6,412,903 shares during the period. 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 worth $129,289,000 after buying an additional 2,777,777 shares during the period. RTW Investments LP grew its stake in Cogent Biosciences by 119.0% in the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after buying an additional 4,124,755 shares during the last quarter. Finally, Commodore Capital LP grew its stake in Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after buying an additional 4,938,836 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on COGT. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday. Jefferies Financial Group started coverage on Cogent Biosciences in a research note on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, HC Wainwright raised their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Stock Performance

NASDAQ COGT traded down $1.64 during midday trading on Friday, hitting $38.87. The company had a trading volume of 2,051,954 shares, compared to its average volume of 3,177,672. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -17.91 and a beta of 0.34. The firm has a fifty day simple moving average of $35.02 and a two-hundred day simple moving average of $36.26. Cogent Biosciences, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting analysts’ consensus estimates of ($0.53). Equities analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current fiscal 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.