Cogent Biosciences (NASDAQ:COGT) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research report released on Tuesday morning, RTT News reports. Wedbush currently has a $11.00 price objective on the technology company’s stock, up from their previous price objective of $10.00. Wedbush also issued estimates for Cogent Biosciences’ FY2027 earnings at ($1.10) EPS.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. HC Wainwright cut their price target on Cogent Biosciences from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Cogent Biosciences from $22.00 to $19.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $14.67.

Cogent Biosciences Stock Down 6.9 %

Cogent Biosciences stock opened at $10.47 on Tuesday. The business’s 50-day moving average price is $9.40 and its 200 day moving average price is $8.10. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -4.22 and a beta of 1.70. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $12.65.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period last year, the business earned ($0.59) EPS. Equities analysts expect that Cogent Biosciences will post -2.25 EPS for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently made changes to their positions in COGT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cogent Biosciences by 67.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,934 shares of the technology company’s stock worth $111,000 after purchasing an additional 7,606 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Cogent Biosciences by 48.1% in the fourth quarter. Fisher Asset Management LLC now owns 101,531 shares of the technology company’s stock worth $597,000 after buying an additional 32,962 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Cogent Biosciences during the fourth quarter worth about $91,000. Jump Financial LLC purchased a new stake in Cogent Biosciences during the 4th quarter valued at about $147,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Cogent Biosciences in the 4th quarter valued at about $70,000.

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.