Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.83 Average Target Price from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.33.

Several equities research analysts have recently issued reports on COGT shares. Wedbush reissued a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Monday. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. 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 research report on Tuesday. Needham & Company LLC downgraded Cogent Biosciences from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th.

Cogent Biosciences Stock Down 2.6 %

Shares of COGT stock traded down $0.20 during mid-day trading on Tuesday, hitting $7.37. 2,030,578 shares of the company's stock were exchanged, compared to its average volume of 1,474,471. The stock has a market cap of $814.10 million, a price-to-earnings ratio of -2.97 and a beta of 1.76. The stock has a 50-day simple moving average of $8.74 and a two-hundred day simple moving average of $9.69. Cogent Biosciences has a fifty-two week low of $4.28 and a fifty-two week high of $12.61.

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

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. JPMorgan Chase & Co. raised its position in shares of Cogent Biosciences by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company's stock valued at $700,000 after acquiring an additional 5,720 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at about $147,000. Geode Capital Management LLC raised its stake in Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company's stock worth $24,638,000 after acquiring an additional 300,062 shares during the period. Barclays PLC boosted its stake in Cogent Biosciences by 124.8% in the third quarter. Barclays PLC now owns 175,684 shares of the technology company's stock valued at $1,897,000 after acquiring an additional 97,541 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Cogent Biosciences during the 3rd quarter worth approximately $488,000.

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.