Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $39.55 Average PT from Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $39.5455.

A number of equities research analysts have recently issued reports on the stock. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Wednesday, January 21st. Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Cogent Biosciences in a research note on Monday, December 8th.

Insider Activity at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc sold 3,500,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Edward Robinson sold 90,000 shares of the business’s stock in a transaction 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 sale, the insider directly owned 140,002 shares of the company’s stock, valued at $5,423,677.48. This represents a 39.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,737,642 shares of company stock worth $136,600,345. 7.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cogent Biosciences by 38.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,459 shares of the technology company’s stock worth $265,000 after purchasing an additional 2,058 shares during the period. CWM LLC grew its holdings in shares of Cogent Biosciences by 4.9% during the 4th quarter. CWM LLC now owns 5,858 shares of the technology company’s stock worth $208,000 after purchasing an additional 276 shares during the period. Tema Etfs LLC increased its position in Cogent Biosciences by 18.2% during the 4th quarter. Tema Etfs LLC now owns 106,329 shares of the technology company’s stock worth $3,777,000 after purchasing an additional 16,406 shares in the last quarter. Nisa Investment Advisors LLC raised 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 buying an additional 488 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Cogent Biosciences in the fourth quarter valued at approximately $366,000.

Cogent Biosciences Trading Up 3.2%

Shares of Cogent Biosciences stock opened at $37.86 on Friday. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $38.13 and its 200-day simple moving average is $22.91. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $43.73. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of -23.09 and a beta of 0.50.

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