Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $42.8182.

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. HC Wainwright lifted their target price on Cogent Biosciences to $52.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Wednesday, January 21st.

Cogent Biosciences Trading Down 3.8%

Cogent Biosciences stock opened at $34.00 on Friday. The company has a 50 day moving average price of $37.32 and a 200 day moving average price of $28.92. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $43.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -15.74 and a beta of 0.47.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Research analysts forecast that Cogent Biosciences will post -2.42 EPS for the current year.

Insider Activity at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the transaction, the insider directly owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Edward Robinson sold 90,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,423,677.48. This represents a 39.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. 7.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cogent Biosciences

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Cogent Biosciences in the 4th quarter worth about $37,000. PNC Financial Services Group Inc. increased its position in Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,032 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after purchasing an additional 655 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Cogent Biosciences by 3,845.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the technology company’s stock worth $62,000 after purchasing an additional 1,692 shares in the last quarter.

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.