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

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Tuesday,Benzinga reports. They presently have a $55.00 target price on the technology company’s stock. Wedbush’s price target indicates a potential upside of 54.15% from the stock’s current price.

Several other analysts also recently weighed in on COGT. UBS Group upgraded Cogent Biosciences to a “strong-buy” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research note on Monday. They issued a “buy” rating and a $55.00 target price on the stock. HC Wainwright lifted their price target on Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences to $67.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Two 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus price target of $43.45.

Cogent Biosciences Trading Up 4.9%

Shares of NASDAQ COGT opened at $35.68 on Tuesday. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 14.23 and a quick ratio of 14.23. The firm has a 50-day moving average of $37.35 and a 200 day moving average of $29.21. The stock has a market cap of $5.79 billion, a P/E ratio of -16.52 and a beta of 0.47.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data 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). As a group, sell-side analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Edward Robinson sold 90,000 shares of Cogent Biosciences stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.74, for a total value of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares in the company, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Evan Kearns sold 65,000 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 $2,515,500.00. Following the completion of the sale, the insider owned 109,398 shares in the company, valued at $4,233,702.60. This represents a 37.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,737,642 shares of company stock valued at $136,600,345. 7.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Cogent Biosciences by 1,164.3% during the fourth 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. Osaic Holdings Inc. lifted its holdings in Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares during the period. Strs Ohio purchased a new position in Cogent Biosciences in the first quarter worth about $36,000. Global Retirement Partners LLC purchased a new position in Cogent Biosciences in the fourth quarter worth about $37,000. Finally, PNC Financial Services Group Inc. grew its stake 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 period.

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.