Cogent Biosciences (NASDAQ:COGT) PT Raised to $15.00 at Citigroup

Cogent Biosciences (NASDAQ:COGT) had its price objective hoisted by investment analysts at Citigroup from $13.00 to $15.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target suggests a potential upside of 37.87% from the company’s previous close.

COGT has been the topic of several other reports. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Robert W. Baird increased their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, HC Wainwright cut their target price on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Cogent Biosciences Stock Down 0.5 %

Shares of Cogent Biosciences stock opened at $10.88 on Tuesday. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $12.14. The firm has a market cap of $1.19 billion, a PE ratio of -4.39 and a beta of 1.70. The business’s fifty day moving average is $9.89 and its two-hundred day moving average is $8.41.

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 analysts’ consensus estimates of ($0.56) by ($0.03). During the same period in the prior year, the firm earned ($0.59) earnings per share. Equities research analysts anticipate that Cogent Biosciences will post -2.25 EPS for the current year.

Institutional Trading of Cogent Biosciences

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its holdings in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Cogent Biosciences in the 4th quarter valued at $70,000. NEOS Investment Management LLC acquired a new stake in Cogent Biosciences in the 4th quarter valued at $76,000. Quest Partners LLC acquired a new stake in Cogent Biosciences in the 2nd quarter valued at $89,000. Finally, 49 Wealth Management LLC grew its stake in shares of Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after acquiring an additional 2,236 shares in the last quarter.

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.