Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.33 Consensus PT from Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.33.

A number of analysts recently issued reports on COGT shares. Needham & Company LLC lowered Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush reiterated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Monday, January 13th. HC Wainwright cut their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th.

Cogent Biosciences Stock Up 0.2 %

NASDAQ COGT opened at $8.76 on Friday. The company’s 50 day moving average is $8.41 and its 200-day moving average is $9.68. The firm has a market cap of $967.65 million, a P/E ratio of -3.53 and a beta of 1.77. Cogent Biosciences has a 12-month low of $5.37 and a 12-month high of $12.61.

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

Institutional Trading of Cogent Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Cogent Biosciences by 8.1% in the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock worth $89,850,000 after acquiring an additional 625,743 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after purchasing an additional 300,062 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Cogent Biosciences by 2,865.3% in the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock worth $7,525,000 after purchasing an additional 932,179 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cogent Biosciences by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,155 shares of the technology company’s stock valued at $6,499,000 after purchasing an additional 7,362 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Cogent Biosciences by 1.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 607,208 shares of the technology company’s stock valued at $6,558,000 after buying an additional 6,444 shares in the last quarter.

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.