LMR Partners LLP Makes New Investment in Cogent Biosciences, Inc. (NASDAQ:COGT)

LMR Partners LLP acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the 3rd quarter, Holdings Channel reports. The firm acquired 44,483 shares of the technology company’s stock, valued at approximately $480,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Values First Advisors Inc. purchased a new position in Cogent Biosciences in the third quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Cogent Biosciences during the third quarter worth $76,000. Russell Investments Group Ltd. increased its holdings in Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after buying an additional 7,020 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Cogent Biosciences in the third quarter valued at $113,000.

Analyst Ratings Changes

COGT has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Citigroup raised their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Needham & Company LLC cut their target price on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Robert W. Baird lifted their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Trading Up 0.8 %

Shares of COGT stock opened at $9.06 on Wednesday. Cogent Biosciences, Inc. has a twelve month low of $3.67 and a twelve month high of $12.61. The business’s 50 day moving average is $10.92 and its two-hundred day moving average is $9.61. The company has a market capitalization of $1.00 billion, a P/E ratio of -3.65 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the firm posted ($0.64) EPS. As a group, equities analysts predict that Cogent Biosciences, Inc. will post -2.4 earnings per share for the current fiscal year.

Cogent Biosciences Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.