The Manufacturers Life Insurance Company Takes Position in Cogent Biosciences, Inc. $COGT

The Manufacturers Life Insurance Company purchased a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 121,486 shares of the technology company’s stock, valued at approximately $4,702,000. The Manufacturers Life Insurance Company owned 0.07% of Cogent Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. J.Safra Asset Management Corp bought a new stake in Cogent Biosciences in the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares during the period. Parallel Advisors LLC bought a new position in shares of Cogent Biosciences during the first quarter worth $39,000. Global Retirement Partners LLC bought a new position in shares of Cogent Biosciences during the fourth quarter worth $37,000. Finally, Summit Securities Group LLC bought a new position in shares of Cogent Biosciences during the first quarter worth $46,000.

Cogent Biosciences Stock Performance

COGT opened at $35.00 on Tuesday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -16.20 and a beta of 0.38. The business’s 50-day moving average price is $38.72 and its two-hundred day moving average price is $36.58. Cogent Biosciences, Inc. has a 1 year low of $11.60 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.03. Equities analysts expect that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. HC Wainwright upped their price objective on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler lifted their target price on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.40.

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.