Lifesci Capital Has Negative Outlook of COGT FY2024 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Investment analysts at Lifesci Capital reduced their FY2024 earnings per share estimates for Cogent Biosciences in a report released on Wednesday, November 13th. Lifesci Capital analyst S. Slutsky now anticipates that the technology company will earn ($2.29) per share for the year, down from their prior estimate of ($2.26). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share. Lifesci Capital also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.61) EPS.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the firm posted ($0.64) earnings per share.

Several other equities analysts have also recently commented on COGT. Citigroup increased their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC reduced their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a research note on Monday, November 4th. Finally, Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Price Performance

COGT opened at $8.90 on Friday. The stock has a market capitalization of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $12.61. The firm’s fifty day moving average price is $10.99 and its 200 day moving average price is $9.55.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new position in shares of Cogent Biosciences during the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. lifted 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 purchasing an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Cogent Biosciences by 234.5% during 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 during the period. nVerses Capital LLC bought a new position in Cogent Biosciences in the 3rd quarter worth about $76,000. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Biosciences in the second quarter valued at approximately $89,000.

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.