Cogent Biosciences’ (COGT) Buy Rating Reaffirmed at HC Wainwright

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports.

A number of other brokerages have also recently issued reports on COGT. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Robert W. Baird upped their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Citigroup lifted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $9.50 on Wednesday. The stock’s 50 day moving average price is $10.49 and its 200 day moving average price is $9.78. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61. The company has a market cap of $1.05 billion, a PE ratio of -3.83 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last issued its 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 in the prior year, the firm posted ($0.64) EPS. On average, equities research analysts anticipate that Cogent Biosciences will post -2.4 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Cogent Biosciences by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock valued at $237,000 after purchasing an additional 4,030 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Cogent Biosciences by 15.8% in the first quarter. California State Teachers Retirement System now owns 64,351 shares of the technology company’s stock valued at $432,000 after buying an additional 8,804 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Cogent Biosciences during the second quarter valued at approximately $1,077,000. Bank of New York Mellon Corp boosted its position in Cogent Biosciences by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 326,584 shares of the technology company’s stock worth $2,753,000 after acquiring an additional 45,770 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Cogent Biosciences by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 130,516 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 11,383 shares during the period.

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.