Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of “Moderate Buy” by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.67.

Several brokerages have weighed in on COGT. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target (up previously from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. HC Wainwright lowered their target price on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 7th. Finally, Robert W. Baird boosted their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th.

Institutional Trading of Cogent Biosciences

A number of large investors have recently made changes to their positions in COGT. Russell Investments Group Ltd. increased its holdings in shares of Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after buying an additional 7,020 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cogent Biosciences in the 4th quarter worth about $70,000. NEOS Investment Management LLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth about $76,000. Quest Partners LLC purchased a new position in shares of Cogent Biosciences during the 2nd quarter worth about $89,000. Finally, 49 Wealth Management LLC boosted its stake in shares of Cogent Biosciences by 20.5% during the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after purchasing an additional 2,236 shares during the period.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $10.52 on Wednesday. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.14. The company has a market capitalization of $1.01 billion, a P/E ratio of -4.24 and a beta of 1.70. The firm’s 50 day simple moving average is $9.70 and its two-hundred day simple moving average is $8.25.

Cogent Biosciences (NASDAQ:COGT) last issued 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. On average, sell-side analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

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.