Cogent Biosciences’ (COGT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $16.00 price objective on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. HC Wainwright decreased their target price on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup raised their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird upped their price target on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

Cogent Biosciences Price Performance

COGT stock traded up $0.23 on Thursday, reaching $12.24. The company’s stock had a trading volume of 11,149 shares, compared to its average volume of 1,425,685. The firm has a fifty day moving average of $10.84 and a two-hundred day moving average of $9.07. The company has a market capitalization of $1.17 billion, a P/E ratio of -4.84 and a beta of 1.71. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $12.61.

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

Institutional Trading of Cogent Biosciences

A number of large investors have recently bought and sold shares of COGT. Values First Advisors Inc. acquired a new stake in Cogent Biosciences during the 3rd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 buying an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after buying an additional 7,020 shares in the last quarter. nVerses Capital LLC acquired a new position in Cogent Biosciences during the third quarter worth $76,000. Finally, Quest Partners LLC acquired a new stake in Cogent Biosciences in the second quarter valued at $89,000.

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.