Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Average Recommendation of “Moderate Buy” from Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $43.4545.

Several research firms have recently commented on COGT. Jefferies Financial Group began coverage on shares of Cogent Biosciences in a report on Monday, March 16th. They set a “buy” rating and a $55.00 price target on the stock. HC Wainwright boosted their price target on shares of Cogent Biosciences to $52.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Robert W. Baird set a $35.00 price target on shares of Cogent Biosciences in a report on Thursday, February 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Fairmount Funds Management LLC lifted its stake in shares of Cogent Biosciences by 44.6% in the 3rd quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after purchasing an additional 2,777,777 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Cogent Biosciences by 4,661,150.0% in the 3rd quarter. Federated Hermes Inc. now owns 93,225 shares of the technology company’s stock valued at $1,339,000 after purchasing an additional 93,223 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Cogent Biosciences by 18.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,757,662 shares of the technology company’s stock valued at $111,400,000 after purchasing an additional 1,234,711 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Cogent Biosciences in the 3rd quarter valued at $885,000. Finally, Optimize Financial Inc acquired a new stake in shares of Cogent Biosciences in the 3rd quarter valued at $467,000.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $36.63 on Monday. The company’s fifty day simple moving average is $36.47 and its 200-day simple moving average is $34.40. The company has a quick ratio of 14.23, a current ratio of 14.23 and a debt-to-equity ratio of 0.41. Cogent Biosciences has a 12 month low of $4.55 and a 12 month high of $43.73. The stock has a market cap of $6.26 billion, a P/E ratio of -16.96 and a beta of 0.37.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). As a group, sell-side analysts forecast that Cogent Biosciences will post -2.14 EPS for the current fiscal year.

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.