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

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $43.4545.

A number of brokerages have weighed in on COGT. UBS Group raised Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Jefferies Financial Group initiated coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Tuesday, March 17th. Piper Sandler upped their price target on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research report on Thursday, February 19th.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $36.95 on Thursday. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -17.11 and a beta of 0.47. The firm’s 50-day moving average is $36.70 and its 200 day moving average is $31.83. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 14.23 and a quick ratio of 14.23.

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

Insider Transactions at Cogent Biosciences

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

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares in the last quarter. Osaic Holdings Inc. boosted its position 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 buying an additional 1,333 shares during the last quarter. Strs Ohio purchased a new stake in Cogent Biosciences in the first quarter valued at approximately $36,000. Global Retirement Partners LLC acquired a new position in Cogent Biosciences in the fourth quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,032 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.