Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Rating of “Moderate Buy” by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.33.

COGT has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Citigroup lifted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Wedbush restated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Monday, January 13th.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $8.03 on Tuesday. Cogent Biosciences has a one year low of $4.28 and a one year high of $12.61. The company has a market cap of $886.99 million, a P/E ratio of -3.24 and a beta of 1.76. The business has a fifty day moving average of $8.56 and a two-hundred day moving average of $9.68.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data 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 period in the previous year, the firm earned ($0.64) EPS. Sell-side analysts predict that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Cogent Biosciences by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company’s stock worth $2,753,000 after buying an additional 45,770 shares in the last quarter. Rhumbline Advisers grew its stake in Cogent Biosciences by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 130,516 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 11,383 shares during the period. Quest Partners LLC purchased a new position in shares of Cogent Biosciences during the 2nd quarter worth $89,000. Sofinnova Investments Inc. boosted its holdings in shares of Cogent Biosciences by 15.5% during the second quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock worth $23,379,000 after purchasing an additional 372,515 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Cogent Biosciences by 34.7% in the second quarter. Cubist Systematic Strategies LLC now owns 134,660 shares of the technology company’s stock valued at $1,135,000 after purchasing an additional 34,655 shares during the period.

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.