Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Rating of “Moderate Buy” by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.5455.

A number of brokerages recently weighed in on COGT. HC Wainwright lifted their price objective on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Stifel Nicolaus upgraded shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, November 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Cogent Biosciences in a research note on Monday, December 8th. Robert W. Baird lifted their target price on Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $37.62 on Wednesday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -22.94 and a beta of 0.45. 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 has a 50-day moving average of $37.77 and a 200 day moving average of $25.76. Cogent Biosciences has a 12 month low of $3.72 and a 12 month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.22). As a group, sell-side analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current year.

Insider Activity

In related news, insider Jessica Sachs sold 82,642 shares of the business’s stock in a transaction on Friday, December 26th. The shares were 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 owned 133,938 shares in the company, valued at approximately $5,183,400.60. The trade was 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 the SEC website. Also, insider Evan Kearns sold 65,000 shares of the firm’s stock in a transaction 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 sale, the insider owned 109,398 shares in the company, valued at approximately $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,737,642 shares of company stock valued at $136,600,345 over the last three months. 7.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Burkehill Global Management LP raised its position in shares of Cogent Biosciences by 62.5% during the 4th quarter. Burkehill Global Management LP now owns 325,000 shares of the technology company’s stock worth $11,544,000 after acquiring an additional 125,000 shares in the last quarter. J. Goldman & Co LP purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $15,603,000. AQR Capital Management LLC raised its holdings in Cogent Biosciences by 4.2% during the fourth quarter. AQR Capital Management LLC now owns 121,800 shares of the technology company’s stock worth $4,326,000 after purchasing an additional 4,959 shares in the last quarter. Jain Global LLC purchased a new stake in shares of Cogent Biosciences during the 4th quarter worth approximately $1,708,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Cogent Biosciences by 2,758.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,564,062 shares of the technology company’s stock worth $91,076,000 after buying an additional 2,474,346 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.