Cogent Biosciences, Inc. (NASDAQ:COGT) Expected to Earn Q3 2024 Earnings of ($0.47) Per Share

Cogent Biosciences, Inc. (NASDAQ:COGT) – Equities research analysts at Wedbush dropped their Q3 2024 earnings estimates for Cogent Biosciences in a research report issued on Tuesday, August 6th. Wedbush analyst D. Nierengarten now forecasts that the technology company will post earnings of ($0.47) per share for the quarter, down from their prior estimate of ($0.44). Wedbush currently has a “Neutral” rating and a $10.00 price target on the stock. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.19) per share. Wedbush also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($2.09) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.40) EPS, FY2025 earnings at ($1.59) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.20) EPS.

Several other research firms have also weighed in on COGT. JPMorgan Chase & Co. lowered their target price on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a report on Monday, June 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Cogent Biosciences in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Cogent Biosciences Price Performance

COGT stock opened at $8.58 on Friday. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $13.23. The firm has a fifty day moving average price of $8.83 and a two-hundred day moving average price of $7.55. The firm has a market cap of $820.33 million, a price-to-earnings ratio of -3.46 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter in the previous year, the company posted ($0.59) EPS.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors have recently bought and sold shares of COGT. Kynam Capital Management LP lifted its holdings in Cogent Biosciences by 164.9% in the fourth quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock worth $34,426,000 after purchasing an additional 3,644,641 shares during the period. Janus Henderson Group PLC lifted its holdings in Cogent Biosciences by 12,785.8% in the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock worth $14,097,000 after purchasing an additional 2,083,065 shares during the period. Vanguard Group Inc. lifted its holdings in Cogent Biosciences by 27.1% in the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after purchasing an additional 1,231,050 shares during the period. Redmile Group LLC lifted its holdings in Cogent Biosciences by 36.0% in the first quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock worth $26,629,000 after purchasing an additional 1,048,580 shares during the period. Finally, Frazier Life Sciences Management L.P. lifted its holdings in Cogent Biosciences by 32.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company’s stock worth $11,732,000 after purchasing an additional 493,884 shares during the period.

Cogent Biosciences Company Profile

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.