Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $39.55 Average Target Price from Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $40.6667.

A number of research analysts have issued reports on COGT shares. Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a research note on Thursday, February 19th. JPMorgan Chase & Co. increased 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. Leerink Partners raised their price objective on shares of Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. Finally, UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th.

Insider Transactions 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 shares were sold at an average price of $38.70, for a total transaction of $2,515,500.00. Following 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. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Sachs sold 82,642 shares of the firm’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 transaction of $3,198,245.40. Following the completion of the transaction, the insider directly owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,737,642 shares of company stock worth $136,600,345. Insiders own 7.29% of the company’s stock.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently made changes to their positions in COGT. Vanguard Group Inc. grew its position in shares of Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares in the last quarter. Deerfield Management Company L.P. boosted its stake in Cogent Biosciences by 242.9% in the 3rd 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 during the period. Fairmount Funds Management LLC grew its holdings in Cogent Biosciences by 44.6% during 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 buying an additional 2,777,777 shares in the last quarter. RTW Investments LP increased its position in shares of Cogent Biosciences by 119.0% during the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after buying an additional 4,124,755 shares during the period. Finally, Commodore Capital LP lifted its holdings in shares of Cogent Biosciences by 213.7% in the third 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 in the last quarter.

Cogent Biosciences Trading Up 5.7%

Shares of COGT stock opened at $39.18 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 14.23 and a current ratio of 14.23. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -18.14 and a beta of 0.45. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $43.73. The company has a 50-day simple moving average of $37.54 and a two-hundred day simple moving average of $26.71.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). Research analysts anticipate that Cogent Biosciences will post -2.42 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.