Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $42.39, but opened at $40.44. Cogent Biosciences shares last traded at $41.0360, with a volume of 454,016 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on COGT. HC Wainwright boosted their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.90.
Get Our Latest Report on Cogent Biosciences
Cogent Biosciences Stock Performance
Cogent Biosciences (NASDAQ:COGT – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The technology company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.01. Analysts forecast that Cogent Biosciences, Inc. will post -2.26 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Pier Capital LLC acquired a new stake in shares of Cogent Biosciences during the 4th quarter valued at about $1,643,000. Vanguard Group Inc. raised its position in Cogent Biosciences by 48.4% in the fourth 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 in the last quarter. Pictet Asset Management Holding SA lifted its stake in Cogent Biosciences by 710.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock worth $4,232,000 after purchasing an additional 98,602 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Cogent Biosciences during the fourth quarter worth about $1,330,000. Finally, Weiss Asset Management LP acquired a new stake in Cogent Biosciences during the first quarter valued at approximately $13,322,000.
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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