Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) PT at $39.55

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $40.6667.

Several research firms recently commented on COGT. Piper Sandler upped their target price on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Cogent Biosciences in a research report on Monday, December 8th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Wednesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Finally, Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, November 10th.

Cogent Biosciences Stock Performance

COGT opened at $37.34 on Wednesday. The company has a quick ratio of 6.38, a current ratio of 14.23 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $37.62 and its two-hundred day moving average price is $26.12. The firm has a market capitalization of $6.06 billion, a P/E ratio of -17.29 and a beta of 0.45. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). On average, equities analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the transaction, the insider owned 109,398 shares of the company’s stock, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Edward Robinson sold 90,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.74, for a total transaction 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 represents a 39.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,737,642 shares of company stock worth $136,600,345. Corporate insiders own 7.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of COGT. CWM LLC boosted its position in Cogent Biosciences by 4.9% in the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock valued at $208,000 after buying an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Cogent Biosciences by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock worth $77,000 after acquiring an additional 300 shares during the last quarter. Optimize Financial Inc lifted its stake in shares of Cogent Biosciences by 1.4% during the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock valued at $1,173,000 after acquiring an additional 472 shares during the period. Nisa Investment Advisors LLC boosted its holdings 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 acquiring an additional 488 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Cogent Biosciences by 2.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company’s stock worth $888,000 after purchasing an additional 527 shares during the period.

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.