Cogent Biosciences (NASDAQ:COGT) Insider Sells $3,198,245.40 in Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) 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 value of $3,198,245.40. Following the completion of the transaction, the insider owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. The trade was a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cogent Biosciences Price Performance

Shares of COGT stock traded down $0.80 during trading hours on Tuesday, hitting $37.12. 2,154,658 shares of the company’s stock were exchanged, compared to its average volume of 2,262,187. Cogent Biosciences, Inc. has a 52 week low of $3.72 and a 52 week high of $43.73. The stock’s 50-day moving average is $31.72 and its 200-day moving average is $18.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -22.63 and a beta of 0.49.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. increased its holdings in shares of Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after acquiring an additional 6,412,903 shares in the last quarter. Commodore Capital LP grew its position in shares of Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after purchasing an additional 4,938,836 shares during the period. Vestal Point Capital LP bought a new stake in Cogent Biosciences during the 1st quarter worth approximately $17,970,000. Fairmount Funds Management LLC raised its holdings in Cogent Biosciences by 44.6% during the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after buying an additional 2,777,777 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Cogent Biosciences in the third quarter valued at approximately $38,348,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COGT. JPMorgan Chase & Co. boosted their target price on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Wedbush raised Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Monday, November 10th. Wall Street Zen upgraded shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Robert W. Baird lifted their target price on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, HC Wainwright upped their target price on shares of Cogent Biosciences from $21.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

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.