Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.00 Average Target Price from Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.43.

A number of brokerages have recently issued reports on COGT. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Scotiabank initiated coverage on shares of Cogent Biosciences in a research note on Friday. They set a “sector outperform” rating and a $17.00 price target for the company. Robert W. Baird decreased their price target on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, HC Wainwright decreased their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Cogent Biosciences

Large investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after purchasing an additional 97,541 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cogent Biosciences by 20.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after buying an additional 139,096 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cogent Biosciences by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after buying an additional 300,062 shares during the last quarter. Intech Investment Management LLC bought a new position in Cogent Biosciences in the 3rd quarter worth $307,000. Finally, JPMorgan Chase & Co. lifted its holdings in Cogent Biosciences by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock worth $700,000 after buying an additional 5,720 shares during the period.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $7.01 on Wednesday. The business has a 50 day moving average of $8.12 and a 200-day moving average of $9.49. The company has a market capitalization of $798.09 million, a P/E ratio of -2.83 and a beta of 1.81. Cogent Biosciences has a 1 year low of $5.73 and a 1 year high of $12.61.

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.