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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $43.7273.

Several brokerages have issued reports on COGT. HC Wainwright increased their price objective on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Cogent Biosciences in a research report on Monday, March 16th. They issued a “buy” rating and a $55.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th.

Cogent Biosciences Stock Up 3.8%

Shares of NASDAQ:COGT opened at $35.84 on Tuesday. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences has a 52-week low of $6.92 and a 52-week high of $43.73. The company has a 50 day moving average of $34.40 and a two-hundred day moving average of $36.32. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -16.52 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). As a group, analysts forecast that Cogent Biosciences will post -2.26 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Several large investors have recently bought and sold shares of COGT. Vanguard Group Inc. boosted its stake in shares of Cogent Biosciences by 48.4% during the 4th 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 during the last quarter. Deerfield Management Company L.P. boosted its stake in shares of Cogent Biosciences by 242.9% during 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 last quarter. Fairmount Funds Management LLC boosted its stake in shares of Cogent Biosciences by 44.6% during 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 buying an additional 2,777,777 shares during the last quarter. RTW Investments LP boosted its stake in shares of Cogent Biosciences by 119.0% during the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after buying an additional 4,124,755 shares during the last quarter. Finally, Commodore Capital LP boosted 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 valued at $104,110,000 after buying an additional 4,938,836 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.