Insider Selling: Cogent Biosciences (NASDAQ:COGT) Insider Sells 65,000 Shares of Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) insider Evan Kearns sold 65,000 shares of the business’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 value of $2,515,500.00. Following the sale, the insider directly owned 109,398 shares in the company, valued at $4,233,702.60. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cogent Biosciences Trading Down 2.1%

Shares of NASDAQ:COGT traded down $0.80 during trading on Tuesday, hitting $37.12. The company had a trading volume of 2,154,658 shares, compared to its average volume of 2,262,187. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -22.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The company has a fifty day simple moving average of $31.72 and a two-hundred day simple moving average of $18.82. Cogent Biosciences, Inc. has a one year low of $3.72 and a one year high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.04. As a group, equities analysts forecast 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 hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. bought a new stake in shares of Cogent Biosciences during the second quarter valued at approximately $3,068,000. Goldman Sachs Group Inc. grew its stake in Cogent Biosciences by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after purchasing an additional 124,069 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in Cogent Biosciences by 162.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 49,325 shares of the technology company’s stock worth $354,000 after purchasing an additional 30,500 shares during the period. F m Investments LLC bought a new stake in Cogent Biosciences during the 2nd quarter valued at $862,000. Finally, Exome Asset Management LLC purchased a new stake in shares of Cogent Biosciences in the 1st quarter worth $3,724,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Robert W. Baird raised their price objective on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday. Finally, HC Wainwright raised their price target on Cogent Biosciences from $21.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

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.