Cogent Biosciences (NASDAQ:COGT) Now Covered by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of Cogent Biosciences (NASDAQ:COGT) in a research note issued on Monday. The firm set a “buy” rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on COGT. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Wednesday, January 21st. Finally, HC Wainwright upped their target price on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.82.

Cogent Biosciences Stock Performance

NASDAQ:COGT traded up $1.82 during mid-day trading on Monday, hitting $35.82. 1,029,978 shares of the company traded hands, compared to its average volume of 1,978,587. The stock’s fifty day moving average price is $37.32 and its 200-day moving average price is $29.04. Cogent Biosciences has a one year low of $3.72 and a one year high of $43.73. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -16.56 and a beta of 0.47.

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). Research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Cogent Biosciences

In other news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $200,324,415.20. The trade was a 38.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following the sale, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This represents a 37.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders 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

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings 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 worth $25,000 after purchasing an additional 652 shares during the period. Osaic Holdings Inc. raised its holdings in 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 buying an additional 1,333 shares during the period. Strs Ohio purchased a new stake in Cogent Biosciences during the 1st quarter valued at $36,000. Global Retirement Partners LLC bought a new stake in Cogent Biosciences in the fourth quarter worth $37,000. Finally, PNC Financial Services Group Inc. lifted its position in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after buying an additional 1,032 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.