Cogent Biosciences (NASDAQ:COGT) Stock Price Down 3.8% – What’s Next?

Cogent Biosciences, Inc. (NASDAQ:COGT) fell 3.8% during mid-day trading on Thursday . The stock traded as low as $37.70 and last traded at $37.9410. 228,501 shares changed hands during trading, a decline of 90% from the average session volume of 2,256,667 shares. The stock had previously closed at $39.45.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COGT shares. HC Wainwright upped their price objective on shares of Cogent Biosciences from $21.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Raymond James Financial started coverage on shares of Cogent Biosciences in a research report on Tuesday, September 2nd. They issued a “strong-buy” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

Cogent Biosciences Trading Up 4.4%

The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -24.12 and a beta of 0.50. The firm’s fifty day moving average is $28.94 and its 200-day moving average is $17.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.04. Equities analysts anticipate that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently added to or reduced their stakes in the business. Swiss National Bank increased its position in shares of Cogent Biosciences by 17.5% in the first quarter. Swiss National Bank now owns 139,100 shares of the technology company’s stock valued at $833,000 after acquiring an additional 20,700 shares during the period. Invesco Ltd. grew its holdings in shares of Cogent Biosciences by 77.9% in the first quarter. Invesco Ltd. now owns 68,743 shares of the technology company’s stock worth $412,000 after acquiring an additional 30,102 shares during the period. Nuveen LLC bought a new position in Cogent Biosciences in the first quarter worth approximately $1,401,000. Russell Investments Group Ltd. grew its stake in shares of Cogent Biosciences by 17,051.1% during the 1st quarter. Russell Investments Group Ltd. now owns 29,843 shares of the technology company’s stock valued at $179,000 after acquiring an additional 29,669 shares during the period. Finally, AlphaQuest LLC increased its stake in Cogent Biosciences by 134.0% in the 1st quarter. AlphaQuest LLC now owns 18,750 shares of the technology company’s stock worth $112,000 after buying an additional 10,738 shares in 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.