Citigroup Raises Cogent Biosciences (NASDAQ:COGT) Price Target to $15.00

Cogent Biosciences (NASDAQ:COGT) had its target price raised by Citigroup from $13.00 to $15.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price target would indicate a potential upside of 39.02% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 7th. Wedbush restated a “neutral” rating and set a $11.00 price objective (up from $10.00) on shares of Cogent Biosciences in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright cut their price objective on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Robert W. Baird boosted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Cogent Biosciences Price Performance

Shares of COGT stock traded up $0.14 on Tuesday, reaching $10.79. 137,422 shares of the stock were exchanged, compared to its average volume of 1,483,527. The stock has a market cap of $1.03 billion, a PE ratio of -4.34 and a beta of 1.70. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.14. The stock has a 50 day moving average price of $9.83 and a 200 day moving average price of $8.36.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter in the prior year, the company earned ($0.59) earnings per share. On average, research analysts expect that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jump Financial LLC bought a new stake in Cogent Biosciences during the 4th quarter worth approximately $147,000. Dynamic Technology Lab Private Ltd acquired a new stake in Cogent Biosciences in the fourth quarter valued at $70,000. Trexquant Investment LP raised its position in Cogent Biosciences by 88.3% during the 4th quarter. Trexquant Investment LP now owns 77,402 shares of the technology company’s stock worth $455,000 after purchasing an additional 36,294 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Cogent Biosciences during the 4th quarter worth about $238,000. Finally, NEOS Investment Management LLC bought a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $76,000.

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.