Needham & Company LLC Reiterates Hold Rating for Cogent Biosciences (NASDAQ:COGT)

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

A number of other equities analysts have also recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday. HC Wainwright reduced their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Cogent Biosciences Trading Up 4.2 %

Shares of NASDAQ COGT opened at $6.99 on Wednesday. The company has a market capitalization of $772.13 million, a P/E ratio of -2.82 and a beta of 1.77. Cogent Biosciences has a 12 month low of $5.73 and a 12 month high of $12.61. The stock has a 50 day moving average of $8.17 and a 200-day moving average of $9.54.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently bought and sold shares of the business. Creative Planning grew its position in shares of Cogent Biosciences by 29.6% during the 3rd quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after purchasing an additional 3,272 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after buying an additional 1,104 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Cogent Biosciences by 87.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,051 shares of the technology company’s stock worth $227,000 after buying an additional 9,819 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in Cogent Biosciences during the 3rd quarter worth $232,000. Finally, Victory Capital Management Inc. acquired a new position in Cogent Biosciences in the 3rd quarter valued at $113,000.

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.