Cogent Biosciences (NASDAQ:COGT) Director Sells $127,400,000.00 in Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) Director Fairmount Funds Management Llc sold 3,500,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total value of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. The trade was a 38.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $36.68 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The business’s 50 day moving average price is $38.05 and its 200-day moving average price is $22.63. The firm has a market capitalization of $5.22 billion, a PE ratio of -22.37 and a beta of 0.50. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $43.73.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on COGT. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price target on shares of Cogent Biosciences in a research note on Monday, December 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. HC Wainwright boosted their target price on Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Finally, Robert W. Baird increased their price target on Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Three investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.55.

Hedge Funds Weigh In On Cogent Biosciences

Large investors have recently modified their holdings of the business. Deerfield Management Company L.P. raised its holdings in Cogent Biosciences by 242.9% in 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. Commodore Capital LP increased its position in shares of Cogent Biosciences by 213.7% during the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after acquiring an additional 4,938,836 shares during the last quarter. Fairmount Funds Management LLC raised its stake in shares of Cogent Biosciences by 44.6% in the 3rd 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. Balyasny Asset Management L.P. purchased a new stake in shares of Cogent Biosciences in the 3rd quarter valued at approximately $38,348,000. Finally, Vivo Capital LLC lifted its holdings in shares of Cogent Biosciences by 148.5% in the 3rd quarter. Vivo Capital LLC now owns 2,789,137 shares of the technology company’s stock worth $40,052,000 after acquiring an additional 1,666,666 shares during 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.