Insider Selling: Cogent Biosciences (NASDAQ:COGT) Insider Sells 82,642 Shares of Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) insider Jessica Sachs sold 82,642 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the sale, the insider owned 133,938 shares in the company, valued at approximately $5,183,400.60. The trade was a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cogent Biosciences Stock Down 2.1%

COGT traded down $0.80 during trading on Tuesday, hitting $37.12. The company had a trading volume of 2,154,658 shares, compared to its average volume of 2,262,187. The company has a market capitalization of $5.29 billion, a PE ratio of -22.63 and a beta of 0.49. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $43.73. The firm’s 50-day moving average price is $31.72 and its 200 day moving average price is $18.82.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.04. As a group, equities analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the period. ProShare Advisors LLC raised its position in Cogent Biosciences by 4.1% during the second quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock valued at $187,000 after purchasing an additional 1,020 shares in the last quarter. Corton Capital Inc. raised its position in Cogent Biosciences by 6.4% during the second quarter. Corton Capital Inc. now owns 17,438 shares of the technology company’s stock valued at $125,000 after purchasing an additional 1,046 shares in the last quarter. CWM LLC boosted its holdings in shares of Cogent Biosciences by 25.3% in the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,333 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COGT. Wall Street Zen upgraded shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Wedbush raised Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Monday, November 10th. Robert W. Baird upped their target price on Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday. Finally, Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.82.

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.