Sei Investments Co. Acquires 18,096 Shares of Cogent Biosciences, Inc. $COGT

Sei Investments Co. increased its holdings in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,510 shares of the technology company’s stock after acquiring an additional 18,096 shares during the period. Sei Investments Co. owned approximately 0.12% of Cogent Biosciences worth $7,602,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Deerfield Management Company L.P. grew its position in Cogent Biosciences by 242.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after purchasing an additional 6,412,903 shares during the last quarter. RTW Investments LP grew its position in Cogent Biosciences by 119.0% in the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after purchasing an additional 4,124,755 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cogent Biosciences by 48.4% in the fourth 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. Balyasny Asset Management L.P. purchased a new stake in shares of Cogent Biosciences during the 3rd quarter valued at about $38,348,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cogent Biosciences by 2,758.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,564,062 shares of the technology company’s stock valued at $91,076,000 after buying an additional 2,474,346 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COGT. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Finally, HC Wainwright lifted their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.90.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $38.93 on Monday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of -17.94 and a beta of 0.38. The firm’s 50-day moving average is $36.66 and its 200 day moving average is $36.52. Cogent Biosciences, Inc. has a 12 month low of $10.38 and a 12 month high of $43.73. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly 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). Research analysts predict that Cogent Biosciences, Inc. will post -2.26 EPS for the current year.

Cogent Biosciences 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.