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

Cogent Biosciences, Inc. (NASDAQ:COGT) has received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $42.8182.

COGT has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. UBS Group raised Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, 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.

Cogent Biosciences Price Performance

Shares of COGT opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The firm has a market cap of $5.52 billion, a PE ratio of -15.74 and a beta of 0.47. The firm’s 50 day moving average price is $37.32 and its 200 day moving average price is $28.92. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). As a group, research analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Cogent Biosciences news, insider Evan Kearns sold 65,000 shares of the company’s 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 $2,515,500.00. Following the completion of the sale, the insider owned 109,398 shares of the company’s stock, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Edward Robinson sold 90,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 140,002 shares in the company, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,737,642 shares of company stock worth $136,600,345 over the last ninety days. Company insiders own 7.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of COGT. EverSource Wealth Advisors LLC raised its holdings in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares during the period. Osaic Holdings Inc. boosted its holdings in Cogent Biosciences by 41.4% during 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 during the period. Strs Ohio bought a new stake in Cogent Biosciences during the first quarter valued at about $36,000. Global Retirement Partners LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 purchasing an additional 1,032 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.