Cogent Biosciences (NASDAQ:COGT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Cogent Biosciences (NASDAQ:COGT) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a research note on Monday, December 29th. UBS Group upgraded shares of Cogent Biosciences to a “strong-buy” rating in a report on Wednesday, January 7th. Leerink Partners raised their price objective on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research report on Monday, December 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.55.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $37.96 on Friday. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $43.73. The firm has a market cap of $5.40 billion, a PE ratio of -23.15 and a beta of 0.45. The company’s 50 day moving average is $38.33 and its two-hundred day moving average is $23.83.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. On average, research analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Transactions at Cogent Biosciences

In other news, insider Evan Kearns sold 65,000 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.70, for a total value of $2,515,500.00. Following the completion of the sale, the insider directly owned 109,398 shares of the company’s stock, valued at approximately $4,233,702.60. The trade was a 37.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica Sachs sold 82,642 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total value of $3,198,245.40. Following the completion of the sale, the insider directly owned 133,938 shares of the company’s stock, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,737,642 shares of company stock worth $136,600,345 over the last three months. 7.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors have recently modified their holdings of COGT. Vanguard Group Inc. boosted its stake in Cogent Biosciences by 48.4% during the 4th quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock worth $408,989,000 after purchasing an additional 3,756,664 shares during the period. Deerfield Management Company L.P. boosted its stake in shares of Cogent Biosciences by 242.9% during the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock worth $130,003,000 after buying an additional 6,412,903 shares during the period. Fairmount Funds Management LLC boosted its stake in shares of Cogent Biosciences by 44.6% during the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock worth $129,289,000 after buying an additional 2,777,777 shares during the period. Commodore Capital LP increased its position in Cogent Biosciences by 213.7% in the 3rd quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after acquiring an additional 4,938,836 shares during the period. Finally, Vestal Point Capital LP increased its position in Cogent Biosciences by 2.7% in the 2nd quarter. Vestal Point Capital LP now owns 3,080,000 shares of the technology company’s stock valued at $22,114,000 after acquiring an additional 80,000 shares during the period.

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.