Cogent Biosciences (NASDAQ:COGT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cogent Biosciences (NASDAQ:COGT) from a sell rating to a hold rating in a research note released on Saturday morning.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Guggenheim increased their price target on Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Piper Sandler lifted their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. HC Wainwright boosted their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $49.40.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $36.23 on Friday. The stock has a market cap of $6.29 billion, a P/E ratio of -16.77 and a beta of 0.38. The firm’s 50-day simple moving average is $38.55 and its 200 day simple moving average is $36.61. Cogent Biosciences has a fifty-two week low of $11.60 and a fifty-two week high of $43.73. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Equities analysts expect that Cogent Biosciences will post -2.24 EPS for the current year.

Institutional Trading of Cogent Biosciences

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of Cogent Biosciences by 5,327.5% in the 2nd quarter. California State Teachers Retirement System now owns 5,480,733 shares of the technology company’s stock valued at $212,104,000 after acquiring an additional 5,379,753 shares in the last quarter. Nykredit A S acquired a new stake in Cogent Biosciences during the second quarter valued at $159,000. Alyeska Investment Group L.P. lifted its holdings in shares of Cogent Biosciences by 9.9% during the 2nd quarter. Alyeska Investment Group L.P. now owns 274,849 shares of the technology company’s stock valued at $10,637,000 after buying an additional 24,849 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cogent Biosciences by 26.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 209,402 shares of the technology company’s stock valued at $8,104,000 after buying an additional 43,892 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Cogent Biosciences by 21.4% in the second quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company’s stock worth $168,112,000 after buying an additional 765,355 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.