Cogent Biosciences (NASDAQ:COGT) Receives Outperform Rating from Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $55.00 price objective on the technology company’s stock. Wedbush’s price target indicates a potential upside of 54.15% from the company’s previous close.

Several other research firms have also commented on COGT. UBS Group upgraded Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. Robert W. Baird set a $35.00 target price on Cogent Biosciences in a research report on Thursday, February 19th. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.45.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $35.68 on Tuesday. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $43.73. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of -16.52 and a beta of 0.47. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $37.35 and a 200 day moving average of $29.21.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Cogent Biosciences news, insider John Edward Robinson sold 90,000 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares of the company’s stock, valued at $5,423,677.48. This trade represents a 39.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica Sachs sold 82,642 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 transaction of $3,198,245.40. Following the sale, the insider owned 133,938 shares in the company, valued at approximately $5,183,400.60. The trade was a 38.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,737,642 shares of company stock valued at $136,600,345 in the last 90 days. 7.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors have recently bought and sold shares of COGT. EverSource Wealth Advisors LLC increased its holdings in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after acquiring an additional 652 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter worth $37,000. PNC Financial Services Group Inc. boosted its holdings in shares of Cogent Biosciences by 414.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,032 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cogent Biosciences by 91.7% during the 4th quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 655 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Cogent Biosciences by 3,845.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the technology company’s stock valued at $62,000 after purchasing an additional 1,692 shares in 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.