The Manufacturers Life Insurance Company Boosts Stock Position in Cogent Biosciences, Inc. (NASDAQ:COGT)

The Manufacturers Life Insurance Company boosted its position in Cogent Biosciences, Inc. (NASDAQ:COGT) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,752 shares of the technology company’s stock after purchasing an additional 4,528 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cogent Biosciences were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in shares of Cogent Biosciences by 48.5% during the 4th quarter. Fisher Asset Management LLC now owns 101,791 shares of the technology company’s stock valued at $599,000 after purchasing an additional 33,222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cogent Biosciences by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company’s stock valued at $352,000 after acquiring an additional 3,912 shares during the period. Swiss National Bank boosted its holdings in Cogent Biosciences by 33.9% in the first quarter. Swiss National Bank now owns 124,000 shares of the technology company’s stock worth $833,000 after purchasing an additional 31,400 shares during the last quarter. 49 Wealth Management LLC grew its holdings in shares of Cogent Biosciences by 20.5% in the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after acquiring an additional 2,236 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $11.64 on Friday. Cogent Biosciences, Inc. has a 1 year low of $3.67 and a 1 year high of $12.14. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -4.69 and a beta of 1.71. The firm’s 50-day moving average is $10.50 and its two-hundred day moving average is $8.89.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter last year, the firm earned ($0.59) EPS. On average, equities analysts expect that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COGT has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Cogent Biosciences in a report on Wednesday, August 7th. Citigroup boosted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their target price 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. JPMorgan Chase & Co. dropped their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, HC Wainwright decreased their price target on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Cogent Biosciences 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.