Cogent Biosciences’ (COGT) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research report released on Wednesday,Benzinga reports. They currently have a $55.00 price target on the technology company’s stock.

Several other equities research analysts have also commented on the stock. HC Wainwright boosted their target price on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 29th. Robert W. Baird upped their target price 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. Leerink Partners increased their target price on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.55.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $36.68 on Wednesday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $38.05 and a 200-day simple moving average of $22.54. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -22.37 and a beta of 0.50. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.04. On average, equities analysts forecast that Cogent Biosciences will post -2.42 EPS for the current year.

Insider Buying and Selling at Cogent Biosciences

In related news, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the sale, the insider owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. This represents a 37.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the stock in a transaction on Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $3,198,245.40. Following the sale, the insider owned 133,938 shares in the company, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,737,642 shares of company stock valued at $136,600,345 over the last three months. Company insiders own 7.29% of the company’s stock.

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tema Etfs LLC boosted its stake in shares of Cogent Biosciences by 18.2% during the fourth quarter. Tema Etfs LLC now owns 106,329 shares of the technology company’s stock valued at $3,777,000 after acquiring an additional 16,406 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cogent Biosciences by 35.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $66,000 after purchasing an additional 488 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cogent Biosciences during the 4th quarter worth about $366,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Cogent Biosciences by 12.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 338,065 shares of the technology company’s stock worth $12,008,000 after buying an additional 37,938 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Cogent Biosciences by 45.3% in the fourth quarter. SG Americas Securities LLC now owns 37,634 shares of the technology company’s stock valued at $1,337,000 after buying an additional 11,729 shares during the last quarter.

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.