Sei Investments Co. Boosts Stock Holdings in Cogent Biosciences, Inc. $COGT

Sei Investments Co. boosted its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 10.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 197,510 shares of the technology company’s stock after acquiring an additional 18,096 shares during the quarter. Sei Investments Co.’s holdings in Cogent Biosciences were worth $7,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position 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 worth $25,000 after buying an additional 652 shares during the last quarter. Osaic Holdings Inc. lifted its position in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares during the last quarter. Strs Ohio purchased a new stake in Cogent Biosciences during the first quarter valued at approximately $36,000. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences in the fourth quarter valued at approximately $37,000. Finally, Parallel Advisors LLC acquired a new stake in Cogent Biosciences in the first quarter valued at approximately $39,000.

Wall Street Analysts Forecast Growth

COGT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. HC Wainwright increased their price objective on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 price objective 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 given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.90.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $38.93 on Monday. The company has a 50 day moving average price of $36.66 and a 200 day moving average price of $36.52. The firm has a market capitalization of $6.65 billion, a P/E ratio of -17.94 and a beta of 0.38. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences, Inc. has a 52 week low of $10.38 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Sell-side analysts expect that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

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.