Cogent Biosciences’ (COGT) Neutral Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report released on Tuesday morning,RTT News reports. Wedbush currently has a $11.00 target price on the technology company’s stock.

Several other equities research analysts have also weighed in on COGT. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, HC Wainwright dropped their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.33.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $6.99 on Tuesday. Cogent Biosciences has a 52-week low of $5.73 and a 52-week high of $12.61. The stock has a market cap of $772.13 million, a PE ratio of -2.82 and a beta of 1.77. The firm’s 50 day moving average price is $8.21 and its two-hundred day moving average price is $9.58.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in COGT. Mirae Asset Global Investments Co. Ltd. increased its position in Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,104 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $78,000. Victory Capital Management Inc. acquired a new stake in shares of Cogent Biosciences during the third quarter worth $113,000. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $81,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $88,000.

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.