Cogent Biosciences’ (COGT) Outperform Rating Reaffirmed at Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report issued on Wednesday,Benzinga reports. They presently have a $55.00 target price on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 36.61% from the company’s current price.

Other analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. HC Wainwright increased their price target on shares of Cogent Biosciences to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Monday, December 29th. Leerink Partners raised their price target on Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.55.

Cogent Biosciences Price Performance

COGT stock opened at $40.26 on Wednesday. The company has a market capitalization of $5.73 billion, a PE ratio of -24.66 and a beta of 0.50. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $37.78 and its two-hundred day moving average is $22.11. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.04. Analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Insider Transactions at Cogent Biosciences

In related news, insider John Edward Robinson sold 90,000 shares of Cogent Biosciences stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.74, for a total transaction of $3,486,600.00. Following the sale, the insider directly owned 140,002 shares of the company’s stock, valued at $5,423,677.48. This trade represents a 39.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the transaction, the insider directly owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. This trade represents a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 237,642 shares of company stock worth $9,200,345. 7.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Tema Etfs LLC increased its stake in Cogent Biosciences by 18.2% in the fourth quarter. Tema Etfs LLC now owns 106,329 shares of the technology company’s stock valued at $3,777,000 after acquiring an additional 16,406 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Cogent Biosciences by 35.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company’s stock worth $66,000 after purchasing an additional 488 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Cogent Biosciences during the fourth quarter valued at $366,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Cogent Biosciences by 12.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 338,065 shares of the technology company’s stock valued at $12,008,000 after buying an additional 37,938 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Cogent Biosciences by 45.3% in the 4th quarter. SG Americas Securities LLC now owns 37,634 shares of the technology company’s stock worth $1,337,000 after purchasing an additional 11,729 shares during the last quarter.

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.