Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Rating of “Moderate Buy” by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $51.5556.

COGT has been the subject of a number of analyst reports. Guggenheim raised their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Friday, May 29th. Piper Sandler upped their target price on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COGT. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cogent Biosciences in the 2nd quarter valued at about $217,000. California State Teachers Retirement System increased its holdings in shares of Cogent Biosciences by 5,327.5% during the 2nd quarter. California State Teachers Retirement System now owns 5,480,733 shares of the technology company’s stock worth $212,104,000 after acquiring an additional 5,379,753 shares during the last quarter. Nykredit A S bought a new stake in Cogent Biosciences in the 2nd quarter valued at $159,000. Alyeska Investment Group L.P. lifted its holdings in Cogent Biosciences by 9.9% during the 2nd quarter. Alyeska Investment Group L.P. now owns 274,849 shares of the technology company’s stock valued at $10,637,000 after purchasing an additional 24,849 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cogent Biosciences by 26.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 209,402 shares of the technology company’s stock worth $8,104,000 after purchasing an additional 43,892 shares during the period.

Cogent Biosciences Trading Down 0.5%

NASDAQ COGT opened at $34.76 on Friday. Cogent Biosciences has a 52 week low of $11.60 and a 52 week high of $43.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The stock’s 50 day moving average price is $38.50 and its two-hundred day moving average price is $36.52. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -16.09 and a beta of 0.31.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.03. As a group, analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current fiscal 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.