HC Wainwright Cuts Cogent Biosciences (NASDAQ:COGT) Price Target to $14.00

Cogent Biosciences (NASDAQ:COGT) had its price objective decreased by HC Wainwright from $17.00 to $14.00 in a report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the technology company’s stock.

A number of other research firms also recently weighed in on COGT. Needham & Company LLC downgraded shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup increased their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted 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. Finally, Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Price Performance

COGT opened at $8.13 on Tuesday. Cogent Biosciences has a 1 year low of $4.28 and a 1 year high of $12.61. The company has a market capitalization of $898.06 million, a PE ratio of -3.28 and a beta of 1.76. The business has a fifty day simple moving average of $8.69 and a 200 day simple moving average of $9.68.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the company posted ($0.64) earnings per share. Equities analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in Cogent Biosciences by 9.6% in the second quarter. Rhumbline Advisers now owns 130,516 shares of the technology company’s stock worth $1,100,000 after purchasing an additional 11,383 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the second quarter worth about $89,000. Sofinnova Investments Inc. boosted its holdings in Cogent Biosciences by 15.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock valued at $23,379,000 after purchasing an additional 372,515 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Cogent Biosciences by 34.7% during the second quarter. Cubist Systematic Strategies LLC now owns 134,660 shares of the technology company’s stock worth $1,135,000 after purchasing an additional 34,655 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock worth $126,335,000 after buying an additional 8,310,150 shares during 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.