Cogent Biosciences, Inc. (NASDAQ:COGT) Short Interest Update

Cogent Biosciences, Inc. (NASDAQ:COGT) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 7,720,000 shares, a drop of 8.4% from the October 31st total of 8,430,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 7.0 days.

Institutional Trading of Cogent Biosciences

Several large investors have recently made changes to their positions in COGT. Values First Advisors Inc. acquired a new stake in Cogent Biosciences during the 3rd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Cogent Biosciences in the third quarter worth about $76,000. Quest Partners LLC acquired a new position in Cogent Biosciences during the second quarter worth about $89,000. Finally, SkyView Investment Advisors LLC grew its stake in Cogent Biosciences by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares in the last quarter.

Cogent Biosciences Stock Up 0.4 %

Shares of COGT stock traded up $0.04 on Wednesday, reaching $9.23. 27,619 shares of the company were exchanged, compared to its average volume of 1,420,335. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61. The business has a 50-day moving average price of $10.68 and a 200 day moving average price of $9.72.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the prior year, the firm posted ($0.64) earnings per share. Equities analysts forecast that Cogent Biosciences will post -2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COGT has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a research note on Monday, November 4th. Needham & Company LLC lowered their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Wedbush reiterated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Finally, Robert W. Baird increased their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

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.