Wellington Management Group LLP Has $2.22 Million Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Wellington Management Group LLP reduced its position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284,850 shares of the technology company's stock after selling 57,473 shares during the quarter. Wellington Management Group LLP owned about 0.25% of Cogent Biosciences worth $2,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its stake in shares of Cogent Biosciences by 8.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company's stock valued at $162,000 after purchasing an additional 1,687 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Cogent Biosciences by 10.5% during the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock worth $180,000 after buying an additional 2,200 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Cogent Biosciences by 15.4% during the 4th quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock worth $140,000 after buying an additional 2,396 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Cogent Biosciences by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company's stock valued at $443,000 after buying an additional 3,382 shares in the last quarter. Finally, Forefront Analytics LLC grew its position in Cogent Biosciences by 37.3% in the fourth quarter. Forefront Analytics LLC now owns 13,760 shares of the technology company's stock valued at $107,000 after acquiring an additional 3,739 shares during the last quarter.

Analysts Set New Price Targets

COGT has been the subject of a number of research reports. Wedbush reissued a "neutral" rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of Cogent Biosciences from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Scotiabank assumed coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 target price on the stock. Robert W. Baird decreased their target price on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, HC Wainwright lowered their price target on shares of Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.57.

Cogent Biosciences Trading Up 1.5%

COGT traded up $0.10 during trading on Monday, reaching $6.90. 2,202,467 shares of the company's stock were exchanged, compared to its average volume of 1,289,425. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $12.61. The firm has a fifty day moving average price of $4.94 and a two-hundred day moving average price of $6.97. The stock has a market capitalization of $785.61 million, a PE ratio of -2.78 and a beta of 1.82.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. Sell-side analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

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.