Osterweis Capital Management Inc. Purchases Shares of 172,085 Cogent Biosciences, Inc. $COGT

Key Points

• Osterweis Capital Management acquired 172,085 shares of Cogent Biosciences during the second quarter, valued at approximately $6.66 million and representing about 0.10% of the company.
• Cogent Biosciences shares were trading at $36.23, down 1.4%, while the company reported a quarterly loss of $0.52 per share—better than analysts’ expected loss of $0.55.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $49.40; several firms recently raised their targets to $52–$55.

Osterweis Capital Management Inc. acquired a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 172,085 shares of the technology company's stock, valued at approximately $6,660,000. Osterweis Capital Management Inc. owned approximately 0.10% of Cogent Biosciences at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. J.Safra Asset Management Corp acquired a new position in shares of Cogent Biosciences in the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company's stock valued at $25,000 after acquiring an additional 652 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Cogent Biosciences in the first quarter valued at $39,000. Global Retirement Partners LLC purchased a new stake in Cogent Biosciences in the fourth quarter valued at $37,000. Finally, Summit Securities Group LLC acquired a new position in Cogent Biosciences in the first quarter valued at $46,000.

Cogent Biosciences Trading Down 1.4%

NASDAQ COGT opened at $36.23 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. The firm has a market cap of $6.29 billion, a PE ratio of -16.77 and a beta of 0.38. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73. The firm's fifty day moving average is $38.55 and its two-hundred day moving average is $36.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.03. Analysts expect that Cogent Biosciences, Inc. will post -2.24 earnings per share for the current year.

Analyst Ratings Changes

COGT has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Cogent Biosciences from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Guggenheim upped their target price on Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, HC Wainwright boosted their price objective on Cogent Biosciences to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. 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. Based on data from MarketBeat, Cogent Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.

Cogent Biosciences Company Profile

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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