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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.43.

Several equities analysts recently weighed in on COGT shares. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Scotiabank initiated coverage on Cogent Biosciences in a report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Wedbush restated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, HC Wainwright lowered their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th.

Cogent Biosciences Trading Down 2.0 %

Shares of NASDAQ:COGT opened at $6.48 on Friday. Cogent Biosciences has a 1-year low of $5.88 and a 1-year high of $12.61. The stock has a market capitalization of $737.75 million, a P/E ratio of -2.61 and a beta of 1.80. The business has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $9.11.

Institutional Trading of Cogent Biosciences

Hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cogent Biosciences during the fourth quarter worth $78,000. Victory Capital Management Inc. bought a new position in Cogent Biosciences during the 3rd quarter worth about $113,000. Hsbc Holdings PLC bought a new position in Cogent Biosciences during the 4th quarter worth about $81,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $88,000. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $89,000.

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.