Wall Street Zen Downgrades Cogent Biosciences (NASDAQ:COGT) to Sell

Cogent Biosciences (NASDAQ:COGT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Piper Sandler upped their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Guggenheim upped their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $51.56.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $34.76 on Friday. The firm’s 50 day moving average price is $38.50 and its 200 day moving average price is $36.52. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -16.09 and a beta of 0.31. Cogent Biosciences has a fifty-two week low of $11.60 and a fifty-two week high of $43.73. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. As a group, equities research analysts predict that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently made changes to their positions in COGT. EverSource Wealth Advisors LLC boosted its stake in shares of Cogent Biosciences by 1,164.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Cogent Biosciences in the 2nd quarter valued at approximately $27,000. Osaic Holdings Inc. increased its stake in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,333 shares in the last quarter. Strs Ohio acquired a new position in Cogent Biosciences during the first quarter worth $36,000. Finally, Global Retirement Partners LLC acquired a new position in Cogent Biosciences during the fourth quarter worth $37,000.

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.