Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) Price Target at $42.82

Cogent Biosciences, Inc. (NASDAQ:COGT) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $43.4545.

A number of equities research analysts have issued reports on COGT shares. Jefferies Financial Group initiated coverage on shares of Cogent Biosciences in a research note on Monday. They set a “buy” rating and a $55.00 price objective on the stock. Piper Sandler boosted their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 5,503,418 shares of the company’s stock, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the company’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 sale, the insider owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,737,642 shares of company stock worth $136,600,345. 7.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after purchasing an additional 652 shares in the last quarter. Osaic Holdings Inc. grew 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 valued at $33,000 after purchasing an additional 1,333 shares during the last quarter. Strs Ohio acquired a new position in Cogent Biosciences during the 1st quarter worth approximately $36,000. Global Retirement Partners LLC acquired a new position in Cogent Biosciences during the 4th quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. lifted 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 valued at $46,000 after purchasing an additional 1,032 shares during the last quarter.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $35.42 on Friday. The business has a fifty day moving average price of $37.36 and a two-hundred day moving average price of $29.37. The stock has a market capitalization of $5.75 billion, a PE ratio of -16.40 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 14.23 and a quick ratio of 14.23. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $43.73.

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