Cogent Biosciences (NASDAQ:COGT) Given New $8.00 Price Target at Robert W. Baird

Cogent Biosciences (NASDAQ:COGT) had its price target lowered by Robert W. Baird from $10.00 to $8.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other brokerages have also commented on COGT. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday. JPMorgan Chase & Co. upped 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. Finally, HC Wainwright decreased their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Cogent Biosciences Trading Up 4.2 %

Cogent Biosciences stock opened at $6.99 on Thursday. The stock has a fifty day moving average price of $8.17 and a 200 day moving average price of $9.54. Cogent Biosciences has a 52 week low of $5.73 and a 52 week high of $12.61. The firm has a market capitalization of $772.13 million, a P/E ratio of -2.82 and a beta of 1.77.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Cogent Biosciences by 99.2% in the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock worth $129,240,000 after purchasing an additional 8,249,845 shares during the last quarter. Octagon Capital Advisors LP lifted its position in shares of Cogent Biosciences by 111.7% in the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after acquiring an additional 1,458,000 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cogent Biosciences by 2,865.3% in the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after purchasing an additional 932,179 shares during the period. Walleye Capital LLC purchased a new position in Cogent Biosciences in the third quarter valued at about $6,019,000. Finally, Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Cogent Biosciences during the 4th quarter valued at $4,279,000.

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.