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

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $45.90.

Several equities analysts have recently commented on COGT shares. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, HC Wainwright lifted their price target on shares of Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tema ETFs LLC boosted its holdings in Cogent Biosciences by 36.7% in the second quarter. Tema ETFs LLC now owns 241,565 shares of the technology company’s stock worth $9,349,000 after purchasing an additional 64,898 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Cogent Biosciences during the second quarter worth $1,726,000. Assenagon Asset Management S.A. lifted its position in shares of Cogent Biosciences by 387.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,441,756 shares of the technology company’s stock worth $55,796,000 after buying an additional 1,146,106 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Cogent Biosciences in the 2nd quarter worth about $87,000. Finally, Empowered Funds LLC bought a new position in shares of Cogent Biosciences in the 1st quarter worth about $249,000.

Cogent Biosciences Trading Down 1.2%

NASDAQ:COGT opened at $39.76 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. Cogent Biosciences has a one year low of $10.38 and a one year high of $43.73. The business’s 50-day simple moving average is $35.86 and its 200 day simple moving average is $36.34. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -18.32 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting analysts’ consensus estimates of ($0.53). As a group, sell-side analysts predict that Cogent Biosciences will post -2.26 earnings per share for the current fiscal year.

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.