Cogent Biosciences (NASDAQ:COGT) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report published on Wednesday morning,Benzinga reports. They currently have a $55.00 price target on the technology company’s stock.

Several other brokerages also recently issued reports on COGT. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price target on shares of Cogent Biosciences in a report on Monday, December 8th. Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, November 10th. Robert W. Baird lifted their price objective on Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. increased their target price on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Three research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.55.

Cogent Biosciences Price Performance

COGT opened at $39.90 on Wednesday. The firm has a market cap of $5.68 billion, a P/E ratio of -24.33 and a beta of 0.50. The business’s fifty day simple moving average is $37.87 and its 200 day simple moving average is $22.23. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $43.73. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.04. As a group, equities research analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Cogent Biosciences

In other news, insider John Edward Robinson sold 90,000 shares of the firm’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.74, for a total value of $3,486,600.00. Following the transaction, the insider owned 140,002 shares of the company’s stock, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica Sachs sold 82,642 shares of Cogent Biosciences stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the transaction, the insider owned 133,938 shares in the company, valued at $5,183,400.60. The trade was a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 237,642 shares of company stock valued at $9,200,345 over the last ninety days. Corporate insiders own 7.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after purchasing an additional 133,174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cogent Biosciences by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock valued at $377,000 after buying an additional 3,693 shares during the period. Goldman Sachs Group Inc. lifted its position in Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after acquiring an additional 124,069 shares in the last quarter. Jane Street Group LLC boosted its holdings in Cogent Biosciences by 66.2% in the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after acquiring an additional 49,338 shares during the period. Finally, Strs Ohio acquired a new stake in Cogent Biosciences in the first quarter valued at approximately $36,000.

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.