Cogent Biosciences (NASDAQ:COGT – Get Free Report) released its quarterly earnings results on Monday. The technology company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.01, FiscalAI reports.
Cogent Biosciences Stock Performance
NASDAQ COGT opened at $42.39 on Monday. The company has a 50-day simple moving average of $37.39 and a two-hundred day simple moving average of $36.65. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. Cogent Biosciences has a 12-month low of $10.70 and a 12-month high of $43.73. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of -19.53 and a beta of 0.38.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on COGT shares. Wedbush reiterated an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a research report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Finally, HC Wainwright upped their target price on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $45.90.
Institutional Investors Weigh In On Cogent Biosciences
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in Cogent Biosciences during the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. increased its stake in Cogent Biosciences by 414.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,032 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Cogent Biosciences by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after purchasing an additional 300 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Cogent Biosciences in the fourth quarter worth approximately $201,000.
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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