Cogent Biosciences (NASDAQ:COGT) Director Sells $127,400,000.00 in Stock

Cogent Biosciences, Inc. (NASDAQ:COGT) Director Fairmount Funds Management Llc sold 3,500,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $36.40, for a total value of $127,400,000.00. Following the transaction, the director directly owned 5,503,418 shares in the company, valued at $200,324,415.20. This trade represents a 38.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cogent Biosciences Trading Down 0.9%

COGT stock traded down $0.37 during midday trading on Thursday, reaching $39.53. The stock had a trading volume of 5,302,073 shares, compared to its average volume of 1,967,152. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -24.10 and a beta of 0.50. Cogent Biosciences, Inc. has a twelve month low of $3.72 and a twelve month high of $43.73. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $37.99 and a two-hundred day simple moving average of $22.35.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.04. As a group, research analysts expect that Cogent Biosciences, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COGT has been the topic of several recent research reports. Wall Street Zen upgraded Cogent Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Leerink Partners increased their target price on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. UBS Group upgraded Cogent Biosciences to a “strong-buy” rating in a research report on Wednesday, January 7th. Stifel Nicolaus raised Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, November 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,333 shares during the period. Strs Ohio bought a new position in Cogent Biosciences during the 1st quarter worth about $36,000. GAMMA Investing LLC raised its stake in shares of Cogent Biosciences by 91.7% in 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 period. Nisa Investment Advisors LLC lifted its holdings in shares of Cogent Biosciences by 35.7% in the fourth 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. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Cogent Biosciences by 16.6% during the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after buying an additional 1,543 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.