Assenagon Asset Management S.A. Increases Position in Cogent Biosciences, Inc. $COGT

Assenagon Asset Management S.A. boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 387.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,441,756 shares of the technology company’s stock after acquiring an additional 1,146,106 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cogent Biosciences were worth $55,796,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pier Capital LLC purchased a new position in shares of Cogent Biosciences during the fourth quarter valued at $1,643,000. Vanguard Group Inc. increased its holdings in Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Cogent Biosciences by 710.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after buying an additional 98,602 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in Cogent Biosciences during the 4th quarter valued at $1,330,000. Finally, Weiss Asset Management LP bought a new position in shares of Cogent Biosciences in the 1st quarter worth $13,322,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $42.39 on Friday. Cogent Biosciences, Inc. has a twelve month low of $10.70 and a twelve month 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 $7.24 billion, a PE ratio of -19.53 and a beta of 0.38. The company’s 50 day moving average is $37.39 and its 200 day moving average is $36.66.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). On average, sell-side analysts forecast that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on COGT shares. HC Wainwright boosted their price objective on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.90.

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.