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

Cogent Biosciences, Inc. (NASDAQ:COGT) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating 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 brokerages recently weighed in on COGT. HC Wainwright increased their price objective on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $39.54 on Friday. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences has a 1-year low of $10.38 and a 1-year high of $43.73. The stock has a market capitalization of $6.76 billion, a P/E ratio of -18.22 and a beta of 0.34. The business has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $36.27.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). Equities analysts predict that Cogent Biosciences will post -2.26 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors have recently made changes to their positions in COGT. EverSource Wealth Advisors LLC lifted its stake in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the period. Osaic Holdings Inc. grew its position in shares of Cogent Biosciences by 41.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after buying an additional 1,333 shares during the period. Strs Ohio acquired a new position in shares of Cogent Biosciences during the 1st quarter worth about $36,000. Global Retirement Partners LLC bought a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $37,000. Finally, Parallel Advisors LLC bought a new stake in shares of Cogent Biosciences in the 1st quarter valued at about $39,000.

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.