Cogent Biosciences (NASDAQ:COGT) Shares Down 10.2% – Should You Sell?

Cogent Biosciences, Inc. (NASDAQ:COGT)’s share price fell 10.2% on Wednesday . The stock traded as low as $34.40 and last traded at $34.5740. 1,131,754 shares changed hands during trading, a decline of 45% from the average session volume of 2,062,567 shares. The stock had previously closed at $38.49.

Analyst Upgrades and Downgrades

COGT has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Tuesday, March 17th. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research report on Thursday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.45.

Cogent Biosciences Stock Down 0.1%

The business’s 50 day simple moving average is $36.86 and its 200-day simple moving average is $31.04. 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 company has a market cap of $5.71 billion, a price-to-earnings ratio of -16.30 and a beta of 0.47.

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

Insider Activity at Cogent Biosciences

In related news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the completion of the transaction, the director directly owned 5,503,418 shares in the company, valued at $200,324,415.20. This represents a 38.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COGT. EverSource Wealth Advisors LLC boosted its holdings in Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after purchasing an additional 652 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 buying an additional 1,032 shares in the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 655 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position 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 buying an additional 1,692 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.