Wellington Management Group LLP increased its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,343,977 shares of the technology company's stock after acquiring an additional 765,355 shares during the period. Wellington Management Group LLP owned about 2.50% of Cogent Biosciences worth $168,112,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Pier Capital LLC acquired a new position in shares of Cogent Biosciences in the fourth quarter worth $1,643,000. Vanguard Group Inc. raised its stake in shares of Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company's stock valued at $408,989,000 after acquiring an additional 3,756,664 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Cogent Biosciences by 710.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company's stock valued at $4,232,000 after purchasing an additional 98,602 shares during the period. Sculptor Capital LP purchased a new position in Cogent Biosciences in the second quarter valued at $1,935,000. Finally, SEB Asset Management AB acquired a new position in Cogent Biosciences during the 1st quarter worth $6,329,000.
Cogent Biosciences Trading Up 1.0%
COGT opened at $35.00 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73. The company has a market cap of $6.07 billion, a P/E ratio of -16.20 and a beta of 0.38. The business's 50-day simple moving average is $38.72 and its 200-day simple moving average is $36.58.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.03. As a group, equities research analysts expect that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.
Analysts Set New Price Targets
COGT has been the topic of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Piper Sandler raised their target price on shares of Cogent Biosciences from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Guggenheim lifted their price target on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, HC Wainwright boosted their price target on shares of Cogent Biosciences to $55.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.40.
Get Our Latest Stock Analysis on COGT
Cogent Biosciences Profile
(
Free Report)
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.
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