Cogent Biosciences (NASDAQ:COGT) Stock Price Up 4.1%

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) rose 4.1% during trading on Monday . The stock traded as high as $11.07 and last traded at $11.07. Approximately 29,115 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,499,300 shares. The stock had previously closed at $10.63.

Analysts Set New Price Targets

COGT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Robert W. Baird lifted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. HC Wainwright decreased their target price on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Wedbush restated a “neutral” rating and set a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Trading Up 1.4 %

The firm has a market cap of $1.02 billion, a PE ratio of -4.24 and a beta of 1.70. The firm has a 50 day moving average price of $9.70 and a 200-day moving average price of $8.25.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period last year, the business earned ($0.59) earnings per share. Equities analysts forecast that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 7,020 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth about $70,000. NEOS Investment Management LLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth about $76,000. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the 2nd quarter valued at about $89,000. Finally, 49 Wealth Management LLC boosted its position in shares of Cogent Biosciences by 20.5% in the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after purchasing an additional 2,236 shares during the period.

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.