Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.5455.

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. Leerink Partners boosted their price objective on shares of 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 increased their target price on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Finally, Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, November 10th.

Insider Buying and Selling

In related news, insider Jessica Sachs sold 82,642 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $3,198,245.40. Following the completion of the transaction, the insider owned 133,938 shares of the company’s stock, valued at $5,183,400.60. The trade was a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the sale, the insider directly owned 109,398 shares of the company’s stock, valued at $4,233,702.60. This represents a 37.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. 7.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in COGT. Osaic Holdings Inc. lifted its holdings in shares of Cogent Biosciences by 41.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,333 shares during the period. Strs Ohio acquired a new position in Cogent Biosciences during the first quarter valued at approximately $36,000. GAMMA Investing LLC lifted its stake in Cogent Biosciences by 91.7% during the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock worth $49,000 after purchasing an additional 655 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Cogent Biosciences by 16.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,543 shares in the last quarter.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $36.68 on Friday. The firm has a market cap of $5.22 billion, a P/E ratio of -22.37 and a beta of 0.50. The business’s 50 day moving average is $38.05 and its 200-day moving average is $22.54. 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.

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

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.