Cogent Biosciences (NASDAQ:COGT) Rating Lowered to Sell at Wall Street Zen

Cogent Biosciences (NASDAQ:COGT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research analysts have also weighed in on COGT. Leerink Partners lifted their price target on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. UBS Group raised shares of Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Robert W. Baird increased their target price on Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Wednesday, January 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.55.

Cogent Biosciences Stock Down 4.6%

NASDAQ:COGT opened at $35.91 on Friday. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $43.73. The stock has a 50-day moving average price of $38.34 and a two-hundred day moving average price of $23.48. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -21.90 and a beta of 0.50. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling at Cogent Biosciences

In related news, insider Jessica Sachs sold 82,642 shares of the 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 $3,198,245.40. Following the completion of the transaction, the insider directly owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Evan Kearns sold 65,000 shares of the firm’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 value of $2,515,500.00. Following the completion of the transaction, the insider owned 109,398 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. Corporate insiders own 7.29% of the company’s stock.

Institutional Investors Weigh In On Cogent Biosciences

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. lifted its stake in Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after acquiring an additional 6,412,903 shares during the last quarter. Fairmount Funds Management LLC grew its position 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. Commodore Capital LP increased its stake in shares of Cogent Biosciences by 213.7% during the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock worth $104,110,000 after purchasing 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 valued at $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.