Cogent Biosciences (NASDAQ:COGT) Upgraded at UBS Group

UBS Group upgraded shares of Cogent Biosciences (NASDAQ:COGT) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on COGT. Leerink Partners lifted their price target on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Robert W. Baird raised their price objective on shares of Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Wedbush raised shares of Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Monday, November 10th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Finally, HC Wainwright raised their price target on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Cogent Biosciences Stock Performance

NASDAQ:COGT opened at $35.35 on Wednesday. The stock has a market capitalization of $5.03 billion, a P/E ratio of -21.55 and a beta of 0.50. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $43.73. The firm has a 50 day moving average of $35.27 and a 200-day moving average of $20.42.

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 analysts’ consensus estimates of ($0.54) by $0.04. As a group, sell-side analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Activity at Cogent Biosciences

In other Cogent Biosciences news, insider Evan Kearns sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $2,515,500.00. Following the transaction, the insider directly owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. This trade represents 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. Also, insider John Edward Robinson sold 90,000 shares of Cogent Biosciences stock in a transaction on Friday, December 26th. The stock was sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the sale, the insider directly owned 140,002 shares of the company’s stock, valued at $5,423,677.48. This represents a 39.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 237,642 shares of company stock worth $9,200,345 over the last ninety days. Company insiders own 7.29% of the company’s stock.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COGT. Deerfield Management Company L.P. boosted its holdings in Cogent Biosciences by 242.9% during the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after buying an additional 6,412,903 shares during the last quarter. Commodore Capital LP raised its position in shares of Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after acquiring an additional 4,938,836 shares during the period. Fairmount Funds Management LLC boosted its stake in Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after acquiring an additional 2,777,777 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Cogent Biosciences during the third quarter valued at approximately $38,348,000. Finally, Vivo Capital LLC increased its stake in Cogent Biosciences by 148.5% in the third quarter. Vivo Capital LLC now owns 2,789,137 shares of the technology company’s stock valued at $40,052,000 after purchasing an additional 1,666,666 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.