Cogent Biosciences, Inc. (NASDAQ:COGT) Short Interest Update

Cogent Biosciences, Inc. (NASDAQ:COGT) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,130,000 shares, a growth of 8.3% from the January 15th total of 9,350,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 6.4 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COGT. SG Americas Securities LLC acquired a new position in shares of Cogent Biosciences in the third quarter worth about $351,000. Creative Planning raised its position in shares of Cogent Biosciences by 29.6% in the third quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after acquiring an additional 3,272 shares during the period. nVerses Capital LLC acquired a new position in shares of Cogent Biosciences in the third quarter worth about $76,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Cogent Biosciences by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 171,999 shares of the technology company’s stock worth $1,858,000 after acquiring an additional 44,287 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Cogent Biosciences by 1.1% in the third quarter. Assenagon Asset Management S.A. now owns 607,208 shares of the technology company’s stock worth $6,558,000 after acquiring an additional 6,444 shares during the period.

Analyst Upgrades and Downgrades

COGT has been the topic of a number of research analyst reports. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. 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 report on Tuesday, January 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.33.

Cogent Biosciences Trading Up 0.7 %

Shares of Cogent Biosciences stock traded up $0.06 during trading hours on Tuesday, reaching $8.09. The stock had a trading volume of 770,438 shares, compared to its average volume of 1,486,153. The stock’s 50 day moving average is $8.28 and its 200 day moving average is $9.62. The firm has a market capitalization of $893.18 million, a PE ratio of -3.26 and a beta of 1.77. Cogent Biosciences has a twelve month low of $5.73 and a twelve month high of $12.61.

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.