Wall Street Zen Upgrades Cogent Biosciences (NASDAQ:COGT) to Hold

Cogent Biosciences (NASDAQ:COGT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also issued reports on COGT. Leerink Partners boosted their target price on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. HC Wainwright lifted their price target on shares of Cogent Biosciences from $21.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Cogent Biosciences in a research note on Monday, December 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, Stifel Nicolaus raised 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. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

Cogent Biosciences Stock Performance

Shares of COGT opened at $39.55 on Friday. The firm has a market capitalization of $5.63 billion, a P/E ratio of -24.12 and a beta of 0.50. 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 has a one year low of $3.72 and a one year high of $43.73. The business has a fifty day moving average of $28.94 and a 200 day moving average of $17.28.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. As a group, sell-side analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Trading of Cogent Biosciences

Institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares in the last quarter. Strs Ohio bought a new stake in shares of Cogent Biosciences during the first quarter valued at approximately $36,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after buying an additional 1,543 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cogent Biosciences by 22.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock worth $78,000 after buying an additional 1,003 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,126 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.