Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.43.

COGT has been the topic of several recent analyst reports. Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. Wedbush restated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. HC Wainwright decreased their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Finally, Scotiabank started coverage on Cogent Biosciences in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target for the company.

Institutional Investors Weigh In On Cogent Biosciences

A number of hedge funds have recently added to or reduced their stakes in COGT. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cogent Biosciences in the 4th quarter worth about $78,000. Victory Capital Management Inc. acquired a new stake in shares of Cogent Biosciences in the third quarter valued at approximately $113,000. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $81,000. KLP Kapitalforvaltning AS acquired a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $88,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $89,000.

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Cogent Biosciences Stock Down 7.0 %

Shares of COGT traded down $0.40 during mid-day trading on Friday, reaching $5.32. 170,378 shares of the stock traded hands, compared to its average volume of 1,239,166. The firm has a market cap of $605.68 million, a price-to-earnings ratio of -2.15 and a beta of 1.67. The stock has a fifty day simple moving average of $7.73 and a 200 day simple moving average of $9.01. Cogent Biosciences has a 12-month low of $5.30 and a 12-month high of $12.61.

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.