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

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $43.4545.

COGT has been the subject of several recent analyst reports. HC Wainwright upped their target price on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Piper Sandler increased their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Tuesday, March 17th. Finally, Jefferies Financial Group initiated coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target on the stock.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total value of $127,400,000.00. Following the sale, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. This trade represents a 38.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock valued at $963,000 after acquiring an additional 133,174 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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. boosted its holdings in Cogent Biosciences by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock valued at $5,924,000 after acquiring an additional 124,069 shares in the last quarter. Jane Street Group LLC increased its position in Cogent Biosciences by 66.2% during the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock valued at $742,000 after purchasing an additional 49,338 shares during the period. Finally, Strs Ohio purchased a new position in Cogent Biosciences during the 1st quarter valued at $36,000.

Cogent Biosciences Stock Performance

COGT opened at $36.95 on Thursday. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $36.70 and its two-hundred day moving average price is $31.83. Cogent Biosciences has a 1-year low of $3.72 and a 1-year high of $43.73. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -17.11 and a beta of 0.47.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, analysts expect that Cogent Biosciences will post -2.42 EPS 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.