Cogent Biosciences (NASDAQ:COGT) Shares Gap Down – Should You Sell?

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) gapped down prior to trading on Monday . The stock had previously closed at $42.39, but opened at $40.44. Cogent Biosciences shares last traded at $41.0360, with a volume of 454,016 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COGT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. HC Wainwright increased their target price on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.90.

Cogent Biosciences Trading Down 6.8%

The company has a fifty day simple moving average of $37.65 and a two-hundred day simple moving average of $36.65. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $6.61 billion, a P/E ratio of -17.83 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.03. On average, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of COGT. Pier Capital LLC acquired a new stake in Cogent Biosciences in the fourth quarter valued at $1,643,000. Vanguard Group Inc. increased 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 purchasing an additional 3,756,664 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Cogent Biosciences by 710.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after purchasing an additional 98,602 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $1,330,000. Finally, Weiss Asset Management LP bought a new stake in shares of Cogent Biosciences in the 1st quarter valued at about $13,322,000.

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.