Cogent Biosciences (NASDAQ:COGT) Cut to Sell at Wall Street Zen

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

A number of other research analysts have also recently issued reports on COGT. HC Wainwright lifted their price target on Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, November 10th. Leerink Partners increased their price target on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Cogent Biosciences Stock Down 4.6%

Shares of COGT opened at $35.91 on Friday. The company has a market capitalization of $5.11 billion, a P/E ratio of -21.90 and a beta of 0.50. Cogent Biosciences has a one year low of $3.72 and a one year high of $43.73. The business’s 50 day simple moving average is $38.34 and its 200-day simple moving average is $23.48. 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 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 predict that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Cogent Biosciences

In other news, insider Evan Kearns sold 65,000 shares of the stock in a transaction 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 transaction, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,183,400.60. This represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,737,642 shares of company stock valued at $136,600,345. 7.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings 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 buying an additional 655 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after acquiring an additional 488 shares during the period. Osaic Holdings Inc. boosted its stake in 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cogent Biosciences by 22.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares during the period. Finally, CWM LLC increased its stake in Cogent Biosciences by 25.3% in the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,126 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.