Weiss Asset Management LP Purchases Shares of 346,104 Cogent Biosciences, Inc. $COGT

Weiss Asset Management LP purchased a new stake in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 346,104 shares of the technology company’s stock, valued at approximately $13,322,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pier Capital LLC bought a new stake in Cogent Biosciences during the 4th quarter valued at $1,643,000. Vanguard Group Inc. boosted its position in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after acquiring an additional 3,756,664 shares during the period. Pictet Asset Management Holding SA boosted its position in Cogent Biosciences by 710.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after acquiring an additional 98,602 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Cogent Biosciences by 12.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 338,065 shares of the technology company’s stock worth $12,008,000 after purchasing an additional 37,938 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Cogent Biosciences in the fourth quarter worth $1,330,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COGT. HC Wainwright lifted their price objective on shares of Cogent Biosciences to $55.00 and gave the company 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 reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $45.90.

Cogent Biosciences Stock Performance

COGT opened at $39.76 on Friday. The business has a 50 day moving average price of $35.86 and a two-hundred day moving average price of $36.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -18.32 and a beta of 0.34. Cogent Biosciences, Inc. has a 1-year low of $10.38 and a 1-year high of $43.73.

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

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.