Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) PT at $43.73

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $43.7273.

Several equities analysts recently issued reports on COGT shares. Piper Sandler boosted their price target on shares of Cogent Biosciences from $39.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Robert W. Baird set a $35.00 price target on shares of Cogent Biosciences in a research report on Thursday, February 19th. Finally, HC Wainwright boosted their price target on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds have recently bought and sold shares of COGT. AQR Capital Management LLC boosted its stake in Cogent Biosciences by 482.6% during the first quarter. AQR Capital Management LLC now owns 160,767 shares of the technology company’s stock worth $963,000 after acquiring an additional 133,174 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cogent Biosciences by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company’s stock worth $377,000 after acquiring an additional 3,693 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Cogent Biosciences by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock worth $5,924,000 after acquiring an additional 124,069 shares in the last quarter. Jane Street Group LLC boosted its stake in Cogent Biosciences by 66.2% during the first quarter. Jane Street Group LLC now owns 123,822 shares of the technology company’s stock worth $742,000 after acquiring an additional 49,338 shares in the last quarter. Finally, Strs Ohio bought a new stake in Cogent Biosciences during the first quarter worth about $36,000.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $32.76 on Friday. Cogent Biosciences has a 1 year low of $5.41 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company’s 50-day moving average is $35.28 and its 200 day moving average is $36.75. The stock has a market capitalization of $5.60 billion, a P/E ratio of -15.10 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly 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). On average, sell-side analysts expect that Cogent Biosciences will post -2.23 earnings per share for the current year.

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.