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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.33.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of 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 reduced their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Monday, January 13th. Finally, Needham & Company LLC cut Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Cogent Biosciences Stock Down 4.7 %

COGT opened at $8.74 on Friday. The business has a 50 day moving average price of $8.42 and a two-hundred day moving average price of $9.67. Cogent Biosciences has a 52 week low of $5.37 and a 52 week high of $12.61. The company has a market cap of $965.42 million, a PE ratio of -3.52 and a beta of 1.77.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period last year, the firm posted ($0.64) earnings per share. As a group, sell-side analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in Cogent Biosciences by 8.1% in the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after purchasing an additional 625,743 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cogent Biosciences by 15.1% in 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 purchasing an additional 300,062 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Cogent Biosciences by 2,865.3% in the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after buying an additional 932,179 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cogent Biosciences by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,155 shares of the technology company’s stock worth $6,499,000 after buying an additional 7,362 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Cogent Biosciences by 1.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 607,208 shares of the technology company’s stock worth $6,558,000 after buying an additional 6,444 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.