346,104 Shares in Cogent Biosciences, Inc. $COGT Acquired by Weiss Asset Management LP

Key Points

• Weiss Asset Management LP opened a new position in Cogent Biosciences, buying 346,104 shares valued at about $13.3 million, or roughly 0.20% of the company.
• Cogent Biosciences stock recently traded at $39.76, near its 52-week high of $43.73, and the company now has a market cap of about $6.79 billion.
• Analysts remain mixed but generally positive: the stock carries an average “Moderate Buy” rating with a $45.90 target price, though Weiss Ratings kept a sell rating on the shares.

Weiss Asset Management LP purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 346,104 shares of the technology company's stock, valued at approximately $13,322,000. Weiss Asset Management LP owned about 0.20% of Cogent Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of COGT. EverSource Wealth Advisors LLC grew its stake in shares of Cogent Biosciences by 1,164.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company's stock valued at $25,000 after buying an additional 652 shares during the period. Osaic Holdings Inc. raised its position in shares of Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock worth $33,000 after buying an additional 1,333 shares during the period. Strs Ohio purchased a new position in shares of Cogent Biosciences in the 1st quarter worth $36,000. Global Retirement Partners LLC purchased a new position in shares of Cogent Biosciences in the 4th quarter worth $37,000. Finally, Parallel Advisors LLC acquired a new position in Cogent Biosciences in the first quarter valued at $39,000.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $39.76 on Friday. The company's fifty day simple moving average is $35.86 and its 200-day simple moving average is $36.34. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.79 billion, a PE ratio of -18.32 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.53). As a group, equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COGT. Wedbush reissued an "outperform" rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. HC Wainwright lifted their price objective on Cogent Biosciences to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cogent Biosciences has an average rating of "Moderate Buy" and an average target price of $45.90.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.

Want to see what other hedge funds are holding COGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.