Cogent Biosciences (NASDAQ:COGT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Cogent Biosciences (NASDAQ:COGT) announced its quarterly earnings data on Monday. The technology company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.01, FiscalAI reports.

Cogent Biosciences Price Performance

COGT stock opened at $42.39 on Monday. The business has a 50-day moving average of $37.39 and a 200-day moving average of $36.65. Cogent Biosciences has a fifty-two week low of $10.70 and a fifty-two week high of $43.73. The stock has a market capitalization of $7.24 billion, a P/E ratio of -19.53 and a beta of 0.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. HC Wainwright boosted their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $45.90.

Institutional Trading of Cogent Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its stake in shares of Cogent Biosciences by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after buying an additional 300 shares in the last quarter. Xponance LLC raised its position in Cogent Biosciences by 7.9% during the fourth quarter. Xponance LLC now owns 10,944 shares of the technology company’s stock worth $389,000 after acquiring an additional 802 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Cogent Biosciences by 414.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences in the fourth quarter valued at $37,000. Finally, Osaic Holdings Inc. lifted its stake in Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares during the last quarter.

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.