Cogent Biosciences (NASDAQ:COGT) Trading 5.1% Higher

Cogent Biosciences, Inc. (NASDAQ:COGT) shares traded up 5.1% during mid-day trading on Friday . The company traded as high as $8.82 and last traded at $8.79. 362,794 shares traded hands during trading, a decline of 79% from the average session volume of 1,765,890 shares. The stock had previously closed at $8.36.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup raised their price objective on Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $8.00 price objective (down from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a report on Friday, May 24th. JPMorgan Chase & Co. lifted their target price on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

Cogent Biosciences Stock Up 5.1 %

The stock has a market capitalization of $840.41 million, a PE ratio of -3.54 and a beta of 1.60. The firm’s fifty day moving average price is $7.70 and its two-hundred day moving average price is $6.73.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). As a group, analysts predict that Cogent Biosciences, Inc. will post -2.19 EPS for the current year.

Institutional Trading of Cogent Biosciences

Several institutional investors have recently made changes to their positions in COGT. Frazier Life Sciences Management L.P. boosted its holdings in shares of Cogent Biosciences by 32.9% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company’s stock valued at $11,732,000 after purchasing an additional 493,884 shares during the last quarter. FMR LLC boosted its stake in Cogent Biosciences by 1,322.5% during the third quarter. FMR LLC now owns 4,569,781 shares of the technology company’s stock valued at $44,555,000 after buying an additional 4,248,521 shares during the last quarter. Kynam Capital Management LP grew its holdings in Cogent Biosciences by 164.9% during the 4th quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock valued at $34,426,000 after buying an additional 3,644,641 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Cogent Biosciences by 50.5% in the 4th quarter. Rafferty Asset Management LLC now owns 288,671 shares of the technology company’s stock worth $1,697,000 after acquiring an additional 96,894 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Cogent Biosciences by 203.1% during the 4th quarter. SG Americas Securities LLC now owns 317,409 shares of the technology company’s stock worth $1,866,000 after acquiring an additional 212,687 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.