Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.7273.

Several brokerages have recently issued reports on COGT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 price target for the company. Finally, HC Wainwright increased their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th.

Cogent Biosciences Trading Up 1.7%

Shares of Cogent Biosciences stock opened at $38.74 on Tuesday. Cogent Biosciences has a 1 year low of $7.07 and a 1 year high of $43.73. The firm has a market cap of $6.62 billion, a PE ratio of -17.85 and a beta of 0.34. The stock has a fifty day moving average price of $34.54 and a 200-day moving average price of $36.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). Equities research analysts anticipate that Cogent Biosciences will post -2.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COGT. Deerfield Management Company L.P. grew its stake in shares of Cogent Biosciences by 242.9% during 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 acquiring an additional 6,412,903 shares during the period. Commodore Capital LP grew 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 acquiring an additional 4,938,836 shares during the period. RTW Investments LP grew its stake in shares of Cogent Biosciences by 119.0% during the 4th quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after acquiring an additional 4,124,755 shares during the period. Vanguard Group Inc. grew its stake in shares of Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after acquiring an additional 3,756,664 shares during the period. Finally, Fairmount Funds Management LLC grew its stake in shares of 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 worth $129,289,000 after acquiring an additional 2,777,777 shares during the period.

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.