Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $43.7273.

A number of research firms have weighed in on COGT. Jefferies Financial Group began coverage on Cogent Biosciences in a report on Monday, March 16th. They issued a “buy” rating and a $55.00 price target for the company. HC Wainwright upped their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, April 10th. Robert W. Baird set a $35.00 price target on shares of Cogent Biosciences in a research note on Thursday, February 19th. Finally, Piper Sandler upped their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th.

Cogent Biosciences Stock Performance

NASDAQ:COGT opened at $32.79 on Friday. 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 company has a market cap of $5.60 billion, a P/E ratio of -15.11 and a beta of 0.34. Cogent Biosciences has a fifty-two week low of $5.49 and a fifty-two week high of $43.73. The firm’s 50 day moving average is $35.16 and its two-hundred day moving average is $36.71.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). Analysts expect that Cogent Biosciences will post -2.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COGT. Vanguard Group Inc. boosted its position in shares of Cogent Biosciences by 48.4% in the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the period. Deerfield Management Company L.P. raised its holdings 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 valued at $130,003,000 after purchasing an additional 6,412,903 shares in the last quarter. Fairmount Funds Management LLC lifted its position in shares of Cogent Biosciences by 44.6% in the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after buying an additional 2,777,777 shares during the last quarter. RTW Investments LP lifted its position in shares of Cogent Biosciences by 119.0% in the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock worth $269,676,000 after buying an additional 4,124,755 shares during the last quarter. Finally, Commodore Capital LP boosted its holdings in Cogent Biosciences by 213.7% during the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after acquiring an additional 4,938,836 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.