Fisher Asset Management LLC Cuts Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Fisher Asset Management LLC lessened its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 14.3% during the 4th quarter, HoldingsChannel reports. The firm owned 110,908 shares of the technology company’s stock after selling 18,507 shares during the period. Fisher Asset Management LLC’s holdings in Cogent Biosciences were worth $865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COGT. SG Americas Securities LLC boosted its stake in Cogent Biosciences by 2,865.3% during the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock worth $7,525,000 after purchasing an additional 932,179 shares during the last quarter. FMR LLC boosted its stake in Cogent Biosciences by 8.1% during the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after purchasing an additional 625,743 shares during the last quarter. Walleye Capital LLC acquired a new stake in Cogent Biosciences during the 3rd quarter worth $6,019,000. Geode Capital Management LLC boosted its stake in Cogent Biosciences by 15.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after purchasing an additional 300,062 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Cogent Biosciences during the 3rd quarter worth $3,135,000.

Cogent Biosciences Trading Up 7.0 %

Shares of COGT stock opened at $7.67 on Thursday. The company’s 50-day moving average price is $8.13 and its 200-day moving average price is $9.51. Cogent Biosciences, Inc. has a twelve month low of $5.73 and a twelve month high of $12.61. The stock has a market cap of $873.23 million, a price-to-earnings ratio of -3.09 and a beta of 1.81.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. HC Wainwright lowered their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird lowered their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Company 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.