Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) PT at $14.67

Cogent Biosciences, Inc. (NASDAQ:COGT) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.67.

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Cogent Biosciences in a report on Thursday, June 27th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Cogent Biosciences in a research report on Monday, June 17th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 price target on shares of Cogent Biosciences in a research report on Friday, May 24th.

Hedge Funds Weigh In On Cogent Biosciences

Institutional investors have recently modified their holdings of the company. Farallon Capital Management LLC boosted its stake in Cogent Biosciences by 2,617.6% in the first quarter. Farallon Capital Management LLC now owns 462,000 shares of the technology company’s stock worth $3,105,000 after buying an additional 445,000 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Cogent Biosciences by 15.8% in the 1st quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company’s stock valued at $432,000 after purchasing an additional 8,804 shares in the last quarter. Janus Henderson Group PLC raised its position in Cogent Biosciences by 12,785.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock worth $14,097,000 after purchasing an additional 2,083,065 shares during the period. Kennedy Capital Management LLC lifted its stake in Cogent Biosciences by 120.3% in the first quarter. Kennedy Capital Management LLC now owns 705,631 shares of the technology company’s stock worth $4,742,000 after purchasing an additional 385,315 shares during the last quarter. Finally, Kynam Capital Management LP boosted its position in Cogent Biosciences by 45.2% during the first quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock valued at $57,120,000 after buying an additional 2,645,234 shares during the period.

Cogent Biosciences Stock Performance

NASDAQ:COGT opened at $8.24 on Friday. The business’s fifty day moving average is $7.95 and its 200 day moving average is $6.84. The firm has a market cap of $787.83 million, a price-to-earnings ratio of -3.32 and a beta of 1.71. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $13.36.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Equities analysts predict that Cogent Biosciences will post -2.19 EPS for the current fiscal year.

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.