Wellington Management Group LLP Increases Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

Wellington Management Group LLP lifted its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 342,323 shares of the technology company’s stock after acquiring an additional 25,470 shares during the quarter. Wellington Management Group LLP’s holdings in Cogent Biosciences were worth $3,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in Cogent Biosciences by 124.5% during the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after acquiring an additional 8,310,150 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Cogent Biosciences during the second quarter valued at approximately $1,077,000. Sofinnova Investments Inc. lifted its position in Cogent Biosciences by 15.5% during the second quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock valued at $23,379,000 after acquiring an additional 372,515 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cogent Biosciences by 20.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after acquiring an additional 139,096 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its position in Cogent Biosciences by 144.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after acquiring an additional 2,209,918 shares during the last quarter.

Analysts Set New Price Targets

COGT has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup raised their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. HC Wainwright reaffirmed a “buy” rating on shares of Cogent Biosciences in a report on Wednesday, December 11th. Finally, Robert W. Baird raised their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Trading Down 0.8 %

NASDAQ COGT opened at $8.19 on Wednesday. The stock has a market cap of $904.68 million, a P/E ratio of -3.30 and a beta of 1.70. Cogent Biosciences, Inc. has a 12-month low of $4.28 and a 12-month high of $12.61. The company has a fifty day simple moving average of $10.25 and a two-hundred day simple moving average of $9.80.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period in the previous year, the business posted ($0.64) EPS. As a group, sell-side analysts forecast 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.