Cogent Biosciences (NASDAQ:COGT) Insider John Edward Robinson Sells 90,000 Shares

Cogent Biosciences, Inc. (NASDAQ:COGT) insider John Edward Robinson sold 90,000 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the completion of the sale, the insider directly owned 140,002 shares of the company’s stock, valued at approximately $5,423,677.48. This trade represents a 39.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cogent Biosciences Trading Down 2.1%

Shares of COGT stock traded down $0.80 during trading on Tuesday, hitting $37.12. 2,154,658 shares of the stock traded hands, compared to its average volume of 2,262,187. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $43.73. The firm has a market capitalization of $5.29 billion, a P/E ratio of -22.63 and a beta of 0.49. The firm’s fifty day moving average price is $31.72 and its 200-day moving average price is $18.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38.

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

Analysts Set New Price Targets

COGT has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Wedbush raised shares of Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Monday, November 10th. Robert W. Baird upped their price objective on shares of Cogent Biosciences from $14.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Stifel Nicolaus raised Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.82.

Institutional Investors Weigh In On Cogent Biosciences

Large investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new stake in Cogent Biosciences during the 3rd quarter worth approximately $199,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cogent Biosciences during the third quarter worth $2,687,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cogent Biosciences in the third quarter valued at $1,436,000. Vivo Capital LLC raised its stake in shares of Cogent Biosciences by 148.5% in the third quarter. Vivo Capital LLC now owns 2,789,137 shares of the technology company’s stock valued at $40,052,000 after acquiring an additional 1,666,666 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Cogent Biosciences by 501.3% in the third quarter. Qube Research & Technologies Ltd now owns 113,658 shares of the technology company’s stock valued at $1,632,000 after purchasing an additional 94,756 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.