Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $45.90.

A number of research firms have commented on COGT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, HC Wainwright boosted their price target on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th.

Hedge Funds Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after purchasing an additional 652 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Cogent Biosciences during the second quarter valued at $27,000. Osaic Holdings Inc. grew its holdings in shares of Cogent Biosciences by 41.4% during the second 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 in the last quarter. Strs Ohio acquired a new position in Cogent Biosciences during the first quarter valued at $36,000. Finally, Global Retirement Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter worth about $37,000.

Cogent Biosciences Stock Down 6.8%

Shares of Cogent Biosciences stock opened at $38.70 on Wednesday. The stock’s fifty day moving average is $37.65 and its 200-day moving average is $36.65. The firm has a market capitalization of $6.61 billion, a PE ratio of -17.83 and a beta of 0.38. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences has a 12-month low of $10.98 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.03. Equities analysts anticipate that Cogent Biosciences will post -2.26 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.