Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $39.55 Average Price Target from Brokerages

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

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $48.00 target price on shares of Cogent Biosciences in a report on Monday, December 8th. JPMorgan Chase & Co. boosted their price objective on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. Wall Street Zen upgraded Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, November 10th.

Insider Activity

In other news, insider John Edward Robinson sold 90,000 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.74, for a total value of $3,486,600.00. Following the completion of the sale, the insider owned 140,002 shares in the company, valued at $5,423,677.48. This represents a 39.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 133,938 shares in the company, valued at $5,183,400.60. The trade was a 38.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,737,642 shares of company stock valued at $136,600,345 over the last quarter. 7.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in shares of 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 acquiring an additional 1,333 shares in the last quarter. Strs Ohio bought a new position in Cogent Biosciences in the 1st quarter valued at $36,000. GAMMA Investing LLC increased its position in shares of Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 655 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cogent Biosciences by 35.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after purchasing an additional 488 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Cogent Biosciences by 16.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares during the period.

Cogent Biosciences Price Performance

Shares of COGT opened at $38.36 on Friday. The business’s fifty day moving average is $38.30 and its 200 day moving average is $23.21. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $43.73. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The stock has a market cap of $5.46 billion, a P/E ratio of -23.39 and a beta of 0.50.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.04. Sell-side analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

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.