49 Wealth Management LLC Has $91,000 Holdings in Cogent Biosciences, Inc. (NASDAQ:COGT)

49 Wealth Management LLC grew its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,137 shares of the technology company’s stock after purchasing an additional 2,236 shares during the period. 49 Wealth Management LLC’s holdings in Cogent Biosciences were worth $91,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AJOVista LLC acquired a new position in shares of Cogent Biosciences during the 4th quarter valued at about $45,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cogent Biosciences by 355.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,772 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Cogent Biosciences in the 4th quarter valued at approximately $70,000. NEOS Investment Management LLC acquired a new stake in Cogent Biosciences in the 4th quarter valued at approximately $76,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences in the 4th quarter valued at approximately $91,000.

Cogent Biosciences Stock Up 1.4 %

Shares of COGT stock traded up $0.13 during mid-day trading on Friday, reaching $9.27. The stock had a trading volume of 551,369 shares, compared to its average volume of 1,263,848. The firm’s 50 day simple moving average is $8.28 and its 200 day simple moving average is $7.02. Cogent Biosciences, Inc. has a one year low of $3.67 and a one year high of $13.36. The firm has a market cap of $886.30 million, a PE ratio of -3.74 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Thursday, June 27th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Cogent Biosciences in a report on Friday, May 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Cogent Biosciences in a report on Monday, June 17th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

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.