E Fund Management Co. Ltd. Takes $89,000 Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

E Fund Management Co. Ltd. acquired a new position in Cogent Biosciences, Inc. (NASDAQ:COGT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,380 shares of the technology company’s stock, valued at approximately $89,000.

Several other large investors have also recently made changes to their positions in COGT. Verition Fund Management LLC grew its stake in Cogent Biosciences by 7.5% during the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after buying an additional 2,176 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after buying an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Cogent Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock worth $183,000 after purchasing an additional 2,371 shares during the period. Creative Planning raised its position in Cogent Biosciences by 29.6% during 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. Finally, JPMorgan Chase & Co. increased its position in shares of Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock worth $700,000 after purchasing an additional 5,720 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on COGT. HC Wainwright dropped their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Wedbush restated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.43.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $7.01 on Monday. Cogent Biosciences, Inc. has a 1-year low of $5.73 and a 1-year high of $12.61. The company has a market cap of $798.09 million, a price-to-earnings ratio of -2.83 and a beta of 1.80. The stock’s 50-day moving average is $8.11 and its two-hundred day moving average is $9.46.

About Cogent Biosciences

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.