Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) Target Price at $14.67

Cogent Biosciences, Inc. (NASDAQ:COGT) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.67.

COGT has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a research report on Thursday, June 27th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a research report on Friday, May 24th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a research report on Monday, June 17th.

Cogent Biosciences Stock Down 7.8 %

COGT opened at $8.24 on Friday. The business has a fifty day moving average of $7.95 and a 200 day moving average of $6.84. The stock has a market cap of $787.83 million, a P/E ratio of -3.32 and a beta of 1.71. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $13.36.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Equities analysts anticipate that Cogent Biosciences will post -2.19 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of COGT. FMR LLC lifted its stake in shares of Cogent Biosciences by 1,322.5% during the 3rd quarter. FMR LLC now owns 4,569,781 shares of the technology company’s stock worth $44,555,000 after purchasing an additional 4,248,521 shares during the last quarter. Kynam Capital Management LP lifted its position in shares of Cogent Biosciences by 164.9% during the fourth quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock valued at $34,426,000 after buying an additional 3,644,641 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cogent Biosciences by 12,785.8% during the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock valued at $14,097,000 after buying an additional 2,083,065 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cogent Biosciences by 27.1% in the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after buying an additional 1,231,050 shares in the last quarter. Finally, Redmile Group LLC grew its position in shares of Cogent Biosciences by 36.0% in the 1st quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock worth $26,629,000 after buying an additional 1,048,580 shares during the last quarter.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.