Osterweis Capital Management Inc. Acquires New Stake in Cogent Biosciences, Inc. $COGT

Osterweis Capital Management Inc. acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 172,085 shares of the technology company’s stock, valued at approximately $6,660,000.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Cogent Biosciences by 482.6% in the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock valued at $963,000 after acquiring an additional 133,174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cogent Biosciences by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after acquiring an additional 3,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cogent Biosciences by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock valued at $5,924,000 after acquiring an additional 124,069 shares during the period. Jane Street Group LLC lifted its holdings in Cogent Biosciences by 66.2% in the first quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock valued at $742,000 after acquiring an additional 49,338 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Cogent Biosciences during the 1st quarter worth $36,000.

Cogent Biosciences Stock Down 1.4%

COGT opened at $36.23 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The company has a market cap of $6.29 billion, a price-to-earnings ratio of -16.77 and a beta of 0.38. Cogent Biosciences, Inc. has a one year low of $11.60 and a one year high of $43.73. The business’s fifty day moving average is $38.55 and its two-hundred day moving average is $36.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Analysts anticipate that Cogent Biosciences, Inc. will post -2.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COGT shares. Wall Street Zen raised shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler boosted their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Guggenheim upped their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.