Cogent Biosciences, Inc. $COGT Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 21.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,343,977 shares of the technology company’s stock after purchasing an additional 765,355 shares during the period. Wellington Management Group LLP’s holdings in Cogent Biosciences were worth $168,112,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CWM LLC increased its position in Cogent Biosciences by 4.9% during the fourth quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after buying an additional 276 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Cogent Biosciences by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after acquiring an additional 300 shares during the last quarter. Optimize Financial Inc increased its holdings in shares of Cogent Biosciences by 1.4% in the 4th quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock valued at $1,173,000 after acquiring an additional 472 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Cogent Biosciences by 1,164.3% in the 4th 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 period. Finally, J.Safra Asset Management Corp purchased a new stake in Cogent Biosciences in the 2nd quarter valued at $27,000.

Cogent Biosciences Trading Up 1.0%

Shares of COGT opened at $35.00 on Tuesday. Cogent Biosciences, Inc. has a twelve month low of $11.60 and a twelve month high of $43.73. The company has a current ratio of 13.57, a quick ratio of 13.57 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.07 billion, a P/E ratio of -16.20 and a beta of 0.38. The firm’s 50-day moving average is $38.72 and its two-hundred day moving average is $36.58.

Cogent Biosciences (NASDAQ:COGT) last posted 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. On average, research analysts predict that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on COGT shares. Wall Street Zen upgraded shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Guggenheim raised their price target on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. HC Wainwright boosted their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, Piper Sandler lifted their target price on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.40.

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.