Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.67.

Several brokerages have weighed in on COGT. 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 reiterated a “buy” rating and issued a $19.00 target price on shares of Cogent Biosciences in a research note on Monday, June 17th. Finally, Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a research report on Friday, May 24th.

Cogent Biosciences Stock Up 3.3 %

NASDAQ:COGT opened at $9.52 on Tuesday. The stock has a market capitalization of $910.21 million, a price-to-earnings ratio of -3.84 and a beta of 1.71. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $13.36. The firm has a 50 day moving average of $8.58 and a 200 day moving average of $7.25.

Cogent Biosciences (NASDAQ:COGT) last issued 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). As a group, analysts expect that Cogent Biosciences will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of COGT. Kynam Capital Management LP grew its position in Cogent Biosciences by 164.9% during the 4th quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock worth $34,426,000 after purchasing an additional 3,644,641 shares during the period. Janus Henderson Group PLC grew its holdings in Cogent Biosciences by 12,785.8% during the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock worth $14,097,000 after acquiring an additional 2,083,065 shares during the period. Vanguard Group Inc. raised its position in Cogent Biosciences by 27.1% during the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after acquiring an additional 1,231,050 shares in the last quarter. Redmile Group LLC lifted its holdings in Cogent Biosciences by 36.0% in the first quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock valued at $26,629,000 after acquiring an additional 1,048,580 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its position in Cogent Biosciences by 32.9% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company’s stock worth $11,732,000 after purchasing an additional 493,884 shares in the last quarter.

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.