Cogent Biosciences, Inc. (NASDAQ:COGT) Short Interest Update

Cogent Biosciences, Inc. (NASDAQ:COGT) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 7,720,000 shares, a decline of 8.4% from the October 31st total of 8,430,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 7.0 days.

Cogent Biosciences Stock Down 0.4 %

NASDAQ:COGT traded down $0.04 during trading hours on Monday, reaching $9.47. The company had a trading volume of 925,375 shares, compared to its average volume of 1,422,662. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -3.80 and a beta of 1.72. The business’s 50-day simple moving average is $10.71 and its two-hundred day simple moving average is $9.71.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.64) 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) earnings per share. As a group, equities analysts predict that Cogent Biosciences will post -2.4 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors have recently modified their holdings of COGT. Virtu Financial LLC acquired a new position in Cogent Biosciences during the 3rd quarter valued at about $147,000. Geode Capital Management LLC boosted its position in shares of 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 valued at $24,638,000 after buying an additional 300,062 shares during the last quarter. Barclays PLC grew its holdings in Cogent Biosciences by 124.8% during the third quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock worth $1,897,000 after buying an additional 97,541 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in Cogent Biosciences in the 3rd quarter valued at $488,000. Finally, Wellington Management Group LLP lifted its stake in Cogent Biosciences by 8.0% during the 3rd quarter. Wellington Management Group LLP now owns 342,323 shares of the technology company’s stock valued at $3,697,000 after acquiring an additional 25,470 shares in the last quarter.

Wall Street Analyst Weigh In

COGT has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective 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. Needham & Company LLC lowered their target price on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.