Cogent Biosciences (NASDAQ:COGT) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Cogent Biosciences (NASDAQ:COGT) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other brokerages also recently issued reports on COGT. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price target on shares of Cogent Biosciences in a report on Monday, December 8th. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. Leerink Partners upped their price objective on shares of Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, November 10th. Three 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.55.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $35.91 on Friday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $38.34 and its 200-day simple moving average is $23.56. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $43.73. The company has a market cap of $5.11 billion, a PE ratio of -21.90 and a beta of 0.50.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. Analysts expect that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Cogent Biosciences

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares in the company, valued at $5,423,677.48. The trade was a 39.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of Cogent Biosciences stock in a transaction dated 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 directly owned 133,938 shares in the company, valued at approximately $5,183,400.60. The trade was 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 have sold 3,737,642 shares of company stock valued at $136,600,345. Corporate insiders own 7.29% of the company’s stock.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of COGT. Osaic Holdings Inc. grew its stake in Cogent Biosciences by 41.4% in the 2nd 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 last quarter. Strs Ohio bought a new position in shares of Cogent Biosciences during the 1st quarter worth approximately $36,000. GAMMA Investing LLC boosted its stake in shares of Cogent Biosciences by 91.7% in the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 655 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Cogent Biosciences by 35.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after buying an additional 488 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Cogent Biosciences by 16.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after acquiring an additional 1,543 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.