Cogent Biosciences (NASDAQ:COGT) Issues Earnings Results, Misses Expectations By $0.22 EPS

Cogent Biosciences (NASDAQ:COGT) issued its earnings results on Tuesday. The technology company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.22), reports.

Cogent Biosciences Stock Performance

COGT stock opened at $36.55 on Tuesday. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $43.73. 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 has a market cap of $5.20 billion, a P/E ratio of -22.25 and a beta of 0.45. The business’s fifty day moving average is $37.78 and its 200-day moving average is $25.58.

Insider Buying and Selling

In related news, insider John Edward Robinson sold 90,000 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.74, for a total value of $3,486,600.00. Following the sale, the insider directly owned 140,002 shares in the company, valued at $5,423,677.48. This trade represents a 39.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences 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 transaction, the director owned 5,503,418 shares in the company, valued at $200,324,415.20. This trade represents a 38.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,737,642 shares of company stock worth $136,600,345 in the last ninety days. 7.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Cogent Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC increased its holdings in 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 buying an additional 300 shares during the last quarter. Xponance LLC increased its position in Cogent Biosciences by 7.9% during the fourth quarter. Xponance LLC now owns 10,944 shares of the technology company’s stock worth $389,000 after buying an additional 802 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,032 shares during the period. Global Retirement Partners LLC bought a new position in Cogent Biosciences during the fourth quarter worth about $37,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Cogent Biosciences by 41.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 target price on shares of Cogent Biosciences in a research report on Monday, December 8th. HC Wainwright upped their target price on Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average price target of $39.55.

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.