SEB Asset Management AB Makes New Investment in Cogent Biosciences, Inc. $COGT

SEB Asset Management AB acquired a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) in the first quarter, HoldingsChannel reports. The institutional investor acquired 164,437 shares of the technology company’s stock, valued at approximately $6,329,000.

Several other large investors also recently modified their holdings of COGT. Vanguard Group Inc. increased its position in shares of Cogent Biosciences by 48.4% during 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 last quarter. Deerfield Management Company L.P. boosted its holdings in Cogent Biosciences by 242.9% in the third 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 stake in Cogent Biosciences by 119.0% during the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after purchasing an additional 4,124,755 shares in the last quarter. State Street Corp grew its stake in Cogent Biosciences by 3.5% during the 4th quarter. State Street Corp now owns 4,940,300 shares of the technology company’s stock valued at $175,479,000 after purchasing an additional 164,881 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Cogent Biosciences by 42.8% during the 4th quarter. Janus Henderson Group PLC now owns 4,537,408 shares of the technology company’s stock valued at $161,115,000 after purchasing an additional 1,359,365 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Cogent Biosciences Stock Performance

Shares of COGT opened at $39.64 on Wednesday. Cogent Biosciences, Inc. has a 1 year low of $10.38 and a 1 year high of $43.73. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -18.27 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The firm has a fifty day moving average of $35.49 and a 200-day moving average of $36.24.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, equities analysts anticipate that Cogent Biosciences, Inc. will post -2.26 earnings per share 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.