Wellington Management Group LLP Trims Stock Holdings in Cogent Biosciences, Inc. $COGT

Wellington Management Group LLP lowered its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 9.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 258,301 shares of the technology company’s stock after selling 26,549 shares during the period. Wellington Management Group LLP owned about 0.23% of Cogent Biosciences worth $1,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Paradigm Biocapital Advisors LP boosted its holdings in Cogent Biosciences by 6.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company’s stock valued at $38,356,000 after purchasing an additional 307,650 shares during the last quarter. Octagon Capital Advisors LP boosted its holdings in Cogent Biosciences by 111.7% in the fourth quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after purchasing an additional 1,458,000 shares during the last quarter. Northern Trust Corp boosted its holdings in Cogent Biosciences by 7.7% in the fourth quarter. Northern Trust Corp now owns 912,713 shares of the technology company’s stock valued at $7,119,000 after purchasing an additional 65,415 shares during the last quarter. Woodline Partners LP boosted its holdings in Cogent Biosciences by 2.1% in the fourth quarter. Woodline Partners LP now owns 613,165 shares of the technology company’s stock valued at $4,783,000 after purchasing an additional 12,589 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in Cogent Biosciences by 53.5% in the first quarter. Algert Global LLC now owns 528,262 shares of the technology company’s stock valued at $3,164,000 after purchasing an additional 184,027 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $12.08 on Monday. The stock’s 50 day moving average price is $10.75 and its two-hundred day moving average price is $7.66. The stock has a market capitalization of $1.38 billion, a P/E ratio of -6.79 and a beta of 0.35. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $12.97.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. On average, analysts anticipate that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group increased their price target on Cogent Biosciences from $23.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 7th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Guggenheim upped their price objective on Cogent Biosciences from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Wedbush restated a “neutral” rating and set a $10.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 30th. Finally, HC Wainwright cut their price objective on Cogent Biosciences from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling at Cogent Biosciences

In related news, Director Fairmount Funds Management Llc purchased 2,777,777 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were acquired at an average cost of $9.00 per share, for a total transaction of $24,999,993.00. Following the transaction, the director owned 9,003,418 shares of the company’s stock, valued at $81,030,762. This trade represents a 44.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.29% of the company’s stock.

Cogent Biosciences Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.