Cogent Biosciences (NASDAQ:COGT) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cogent Biosciences (NASDAQ:COGT) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Guggenheim upped their price target on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Piper Sandler increased their price objective on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.56.

Cogent Biosciences Price Performance

Shares of COGT stock opened at $34.76 on Friday. The stock’s 50-day moving average is $38.50 and its 200 day moving average is $36.52. Cogent Biosciences has a 1-year low of $11.60 and a 1-year high of $43.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. The company has a market cap of $6.03 billion, a P/E ratio of -16.09 and a beta of 0.31.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.03. Research analysts predict that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in shares of Cogent Biosciences by 482.6% in the 1st quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock valued at $963,000 after acquiring an additional 133,174 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cogent Biosciences by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after acquiring an additional 3,693 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after acquiring an additional 124,069 shares during the period. Jane Street Group LLC lifted its position in Cogent Biosciences by 66.2% during the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after acquiring an additional 49,338 shares during the period. Finally, Strs Ohio purchased a new stake in Cogent Biosciences during the 1st quarter valued at about $36,000.

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.