Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $37.8182.

COGT has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price target on shares of Cogent Biosciences in a report on Monday, December 8th. JPMorgan Chase & Co. raised their target price on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Leerink Partners lifted their target price on shares of Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. 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 report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $34.26 on Tuesday. 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 has a fifty-two week low of $3.72 and a fifty-two week high of $43.73. The business has a fifty day moving average of $33.72 and a 200-day moving average of $19.81. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of -20.89 and a beta of 0.50.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. As a group, analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Edward Robinson sold 90,000 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the transaction, the insider owned 140,002 shares of the company’s stock, valued at $5,423,677.48. This represents a 39.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Evan Kearns sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the completion of the sale, the insider directly owned 109,398 shares in the company, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 237,642 shares of company stock worth $9,200,345. 7.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Deerfield Management Company L.P. grew its stake in shares of 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 buying an additional 6,412,903 shares during the period. Fairmount Funds Management LLC grew its position in Cogent Biosciences by 44.6% during the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after acquiring an additional 2,777,777 shares during the period. Vanguard Group Inc. increased its stake in Cogent Biosciences by 18.9% during the third quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock worth $111,400,000 after acquiring an additional 1,234,711 shares during the last quarter. Commodore Capital LP increased its stake in Cogent Biosciences by 213.7% during the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock worth $104,110,000 after acquiring an additional 4,938,836 shares during the last quarter. Finally, Vestal Point Capital LP raised its holdings in shares of Cogent Biosciences by 2.7% in the 2nd quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company’s stock worth $22,114,000 after purchasing an additional 80,000 shares during the period.

Cogent Biosciences Company 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.