Insider Selling: Cogent Biosciences (NASDAQ:COGT) Insider Sells 65,000 Shares of Stock

by · The Cerbat Gem

Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report) insider Evan Kearns sold 65,000 shares of the company’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $38.70, for a total transaction 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. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cogent Biosciences Stock Down 2.1%

Cogent Biosciences stock traded down $0.80 during midday trading on Tuesday, hitting $37.12. 2,154,658 shares of the company’s stock were exchanged, compared to its average volume of 2,262,187. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38. The company has a market cap of $5.29 billion, a PE ratio of -22.63 and a beta of 0.49. The firm has a 50-day moving average of $31.72 and a two-hundred day moving average of $18.82. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $43.73.

Cogent Biosciences (NASDAQ:COGT – Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.04. As a group, analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COGT has been the topic of a number of analyst reports. HC Wainwright lifted their price target on Cogent Biosciences from $21.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wall Street Zen raised Cogent Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Wedbush upgraded Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Monday, November 10th. Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, November 10th. Finally, Robert W. Baird raised their price target on shares of Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.82.

Read Our Latest Stock Analysis on Cogent Biosciences

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 22.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,003 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Cogent Biosciences by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 26,021 shares of the technology company’s stock worth $187,000 after buying an additional 1,020 shares during the period. Corton Capital Inc. lifted its position in shares of Cogent Biosciences by 6.4% during the 2nd quarter. Corton Capital Inc. now owns 17,438 shares of the technology company’s stock valued at $125,000 after buying an additional 1,046 shares in the last quarter. CWM LLC lifted its position in shares of Cogent Biosciences by 25.3% during the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock valued at $80,000 after buying an additional 1,126 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in 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 acquiring an additional 1,333 shares during the period.

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.

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