Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $37.82 Consensus Price Target from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued 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 target among brokerages that have issued ratings on the stock in the last year is $37.8182.

COGT has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Cogent Biosciences in a research note on Monday, December 8th. Stifel Nicolaus upgraded Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, November 10th. HC Wainwright increased their target price on Cogent Biosciences from $21.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wedbush raised shares of Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Monday, November 10th. Finally, Robert W. Baird increased their price objective on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th.

Insider Buying and Selling at Cogent Biosciences

In related news, insider John Edward Robinson sold 90,000 shares of the stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the transaction, the insider directly owned 140,002 shares in the company, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Evan Kearns sold 65,000 shares of Cogent Biosciences stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the sale, the insider directly owned 109,398 shares in the company, valued at approximately $4,233,702.60. This represents a 37.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 237,642 shares of company stock valued at $9,200,345 in the last 90 days. 7.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds have recently made changes to their positions in COGT. Deerfield Management Company L.P. lifted its position in shares of Cogent Biosciences by 242.9% in the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. Commodore Capital LP boosted its stake in shares of Cogent Biosciences by 213.7% during the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock worth $104,110,000 after buying an additional 4,938,836 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Cogent Biosciences in the 1st quarter valued at about $17,970,000. Fairmount Funds Management LLC increased its position in shares of Cogent Biosciences by 44.6% in the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after acquiring an additional 2,777,777 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Cogent Biosciences in the third quarter valued at about $38,348,000.

Cogent Biosciences Stock Down 2.2%

Shares of NASDAQ:COGT opened at $34.74 on Tuesday. The company has a 50 day moving average price of $33.36 and a two-hundred day moving average price of $19.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38. The company has a market capitalization of $4.95 billion, a PE ratio of -21.18 and a beta of 0.50. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. Analysts forecast 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.