Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Thirteen analysts rate Cogent Biosciences a “Moderate Buy,” including eight buys and two strong buys, with an average 12-month price target of $45.90 versus a recent price of $38.70.
• Cogent reported quarterly EPS of -$0.52, beating the consensus estimate of -$0.55; analysts expect a full-year EPS loss of approximately $2.26.
• The stock has traded between $10.98 and $43.73 over the past year and has a market capitalization of about $6.61 billion, while several institutional investors recently increased their holdings.

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.90.

COGT has been the topic of several analyst reports. Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. HC Wainwright boosted their price objective on Cogent Biosciences to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $38.70 on Wednesday. Cogent Biosciences has a 1-year low of $10.98 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 business's fifty day moving average price is $37.65 and its two-hundred day moving average price is $36.65. The firm has a market capitalization of $6.61 billion, a PE ratio of -17.83 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. On average, research analysts expect that Cogent Biosciences will post -2.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COGT. CWM LLC raised its holdings in shares of Cogent Biosciences by 4.9% in the 4th quarter. CWM LLC now owns 5,858 shares of the technology company's stock worth $208,000 after purchasing an additional 276 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Cogent Biosciences by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company's stock worth $77,000 after buying an additional 300 shares in the last quarter. Optimize Financial Inc boosted its holdings in Cogent Biosciences by 1.4% during the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company's stock worth $1,173,000 after buying an additional 472 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Cogent Biosciences by 2.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,014 shares of the technology company's stock worth $888,000 after buying an additional 527 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 worth $25,000 after buying an additional 652 shares during the last quarter.

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.

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