Nomura Asset Management Co. Ltd. Acquires New Shares in Cogent Biosciences, Inc. (NASDAQ:COGT)

Nomura Asset Management Co. Ltd. bought a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 45,206 shares of the technology company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in shares of Cogent Biosciences in the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cogent Biosciences by 38.7% in 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 period. nVerses Capital LLC bought a new position in Cogent Biosciences during the 3rd quarter worth about $76,000. Quest Partners LLC acquired a new stake in shares of Cogent Biosciences in the 2nd quarter valued at about $89,000. Finally, SkyView Investment Advisors LLC raised its stake in shares of Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,500 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective 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. JPMorgan Chase & Co. boosted their price objective 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. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Finally, Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Trading Down 2.3 %

NASDAQ COGT opened at $8.15 on Monday. The firm has a market capitalization of $900.25 million, a P/E ratio of -3.29 and a beta of 1.70. The firm’s fifty day moving average price is $10.36 and its two-hundred day moving average price is $9.79. Cogent Biosciences, Inc. has a 1 year low of $4.28 and a 1 year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the company earned ($0.64) EPS. On average, research analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS 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.