Key Points
- Fairmount Funds Management LLC, a director at Cogent Biosciences, sold 3,500,000 shares on Jan. 22 at an average price of $36.40 for proceeds of about $127.4 million, trimming its stake by 38.87% to 5,503,418 shares (valued ≈ $200.3M).
- Cogent's stock recently traded near $39.53 (50‑day/200‑day moving averages $37.99/$22.35) with a market cap of $5.63B; analysts collectively rate the name a “Moderate Buy” with an average price target of $39.55 and several notable upgrades, including JPMorgan’s $67 target.
Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) Director Fairmount Funds Management Llc sold 3,500,000 shares of the firm's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the sale, the director owned 5,503,418 shares in the company, valued at approximately $200,324,415.20. The trade was a 38.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Cogent Biosciences Price Performance
Shares of NASDAQ COGT opened at $39.53 on Friday. The company has a fifty day moving average price of $37.99 and a 200 day moving average price of $22.35. The firm has a market cap of $5.63 billion, a PE ratio of -24.10 and a beta of 0.50. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.23. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $43.73.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.04. Research analysts predict that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its holdings in shares of Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,333 shares during the period. Strs Ohio acquired a new position in Cogent Biosciences during the first quarter worth approximately $36,000. GAMMA Investing LLC increased its position in Cogent Biosciences by 91.7% during the fourth quarter. GAMMA Investing LLC now owns 1,369 shares of the technology company's stock worth $49,000 after buying an additional 655 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Cogent Biosciences by 35.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the technology company's stock valued at $66,000 after buying an additional 488 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company's stock valued at $78,000 after buying an additional 1,543 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on COGT. Wall Street Zen raised shares of Cogent Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, December 20th. Stifel Nicolaus upgraded shares of Cogent Biosciences from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a report on Monday, November 10th. Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Wednesday. Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 price target on shares of Cogent Biosciences in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences to $67.00 and gave the stock an "overweight" rating in a research note on Friday, December 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Cogent Biosciences has an average rating of "Moderate Buy" and an average price target of $39.55.
Get Our Latest Research Report on COGT
About Cogent Biosciences
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
