Hennion & Walsh Asset Management Inc. Decreases Stake in Cogent Biosciences, Inc. $COGT

Hennion & Walsh Asset Management Inc. cut its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 59.6% in the 2nd quarter, Holdings Channel reports. The fund owned 131,775 shares of the technology company’s stock after selling 194,697 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cogent Biosciences were worth $5,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of COGT. Pier Capital LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at approximately $1,643,000. Vanguard Group Inc. grew its position in shares of Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after buying an additional 3,756,664 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Cogent Biosciences by 710.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after buying an additional 98,602 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Cogent Biosciences in the fourth quarter valued at $1,330,000. Finally, Weiss Asset Management LP bought a new position in Cogent Biosciences during the 1st quarter valued at $13,322,000.

Cogent Biosciences Price Performance

COGT stock opened at $42.39 on Monday. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of -19.53 and a beta of 0.38. Cogent Biosciences, Inc. has a 1-year low of $10.70 and a 1-year high of $43.73. The firm has a fifty day moving average price of $37.39 and a two-hundred day moving average price of $36.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COGT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, HC Wainwright upped their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.90.

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.