Cogent Biosciences (NASDAQ:COGT) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Cogent Biosciences (NASDAQ:COGT) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $55.00 target price on the technology company’s stock.

Several other equities analysts also recently weighed in on the stock. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. HC Wainwright upped their price target on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Wednesday, January 21st. Two research 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.45.

Cogent Biosciences Stock Up 4.9%

COGT stock opened at $35.68 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -16.52 and a beta of 0.47. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $43.73. The stock has a fifty day moving average of $37.35 and a 200-day moving average of $29.21.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, February 17th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, equities research analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current year.

Insider Activity

In related news, insider Evan Kearns sold 65,000 shares of the business’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 transaction of $2,515,500.00. Following the completion of the transaction, the insider owned 109,398 shares of the company’s stock, valued at approximately $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 is accessible through the SEC website. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the sale, the director directly owned 5,503,418 shares in the company, valued at $200,324,415.20. This trade represents a 38.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,737,642 shares of company stock valued at $136,600,345. Corporate insiders own 7.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares during the period. Osaic Holdings Inc. boosted its stake in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after buying an additional 1,333 shares during the period. Strs Ohio purchased a new position in Cogent Biosciences during the first quarter worth about $36,000. Global Retirement Partners LLC bought a new position in Cogent Biosciences in the 4th quarter worth about $37,000. Finally, PNC Financial Services Group Inc. increased its stake in Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,032 shares during 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.