Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.83 Consensus Target Price from Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.83.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating on shares of Cogent Biosciences in a research report on Wednesday, December 11th. Needham & Company LLC downgraded Cogent Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Citigroup upped their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 acquiring an additional 1,104 shares during the last quarter. Verition Fund Management LLC lifted its position in Cogent Biosciences by 7.5% in the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after purchasing an additional 2,176 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,500 shares during the period. Values First Advisors Inc. bought a new position in shares of Cogent Biosciences in the third quarter worth approximately $32,000. Finally, Creative Planning increased its stake in shares of Cogent Biosciences by 29.6% in the third quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after buying an additional 3,272 shares during the period.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $7.84 on Friday. The company has a market cap of $866.02 million, a price-to-earnings ratio of -3.16 and a beta of 1.70. Cogent Biosciences has a one year low of $4.28 and a one year high of $12.61. The firm has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $9.77.

Cogent Biosciences (NASDAQ:COGT) last posted 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 period last year, the firm posted ($0.64) earnings per share. Equities research analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

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.