Cogent Biosciences (NASDAQ:COGT) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note issued to investors on Tuesday, RTT News reports. The firm currently has a $11.00 price target on the technology company’s stock, up from their prior price target of $10.00. Wedbush also issued estimates for Cogent Biosciences’ FY2027 earnings at ($1.10) EPS.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright cut their target price on Cogent Biosciences from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a buy rating and issued a $18.00 price target on shares of Cogent Biosciences in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $14.67.

Cogent Biosciences Trading Down 6.9 %

Shares of COGT stock opened at $10.47 on Tuesday. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.65. The company’s 50-day moving average price is $9.40 and its 200-day moving average price is $8.10. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -4.22 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly 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 last year, the firm earned ($0.59) EPS. As a group, equities research analysts predict that Cogent Biosciences will post -2.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $70,000. NEOS Investment Management LLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $76,000. Quest Partners LLC acquired a new stake in Cogent Biosciences during the 2nd quarter worth $89,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Cogent Biosciences during the fourth quarter worth about $91,000.

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.