Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.83 Consensus PT from Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.83.

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Needham & Company LLC lowered their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Robert W. Baird raised their price target on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, Citigroup raised their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th.

Cogent Biosciences Trading Down 0.5 %

NASDAQ:COGT opened at $9.58 on Monday. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $12.61. The stock has a 50-day moving average price of $10.78 and a 200 day moving average price of $9.66. The stock has a market capitalization of $1.06 billion, a P/E ratio of -3.87 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the company earned ($0.64) earnings per share. On average, research analysts predict that Cogent Biosciences will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in COGT. Russell Investments Group Ltd. increased its holdings 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 acquiring an additional 7,020 shares during the period. ProShare Advisors LLC boosted its position in shares of Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after purchasing an additional 2,953 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cogent Biosciences by 27.1% in the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after purchasing an additional 1,231,050 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cogent Biosciences by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock worth $237,000 after purchasing an additional 4,030 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Cogent Biosciences by 120.3% in the 1st quarter. Kennedy Capital Management LLC now owns 705,631 shares of the technology company’s stock worth $4,742,000 after purchasing an additional 385,315 shares in the last quarter.

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.