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

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.43.

A number of research firms have recently weighed in on COGT. Wedbush reaffirmed a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, February 25th. HC Wainwright dropped their price objective on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Scotiabank began coverage on Cogent Biosciences in a research note on Friday. They issued a "sector outperform" rating and a $17.00 price objective for the company. Robert W. Baird dropped their price objective on Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded down $0.40 during mid-day trading on Wednesday, reaching $7.01. The company's stock had a trading volume of 944,550 shares, compared to its average volume of 1,254,811. The firm has a market capitalization of $798.09 million, a PE ratio of -2.83 and a beta of 1.81. The stock has a fifty day moving average of $8.12 and a two-hundred day moving average of $9.49. Cogent Biosciences has a 52 week low of $5.73 and a 52 week high of $12.61.

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Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COGT. Creative Planning boosted its stake in Cogent Biosciences by 29.6% during the third quarter. Creative Planning now owns 14,324 shares of the technology company's stock valued at $155,000 after buying an additional 3,272 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Cogent Biosciences in the 3rd quarter valued at approximately $232,000. Victory Capital Management Inc. bought a new stake in shares of Cogent Biosciences in the 3rd quarter valued at approximately $113,000. Finally, Quest Partners LLC lifted its stake in shares of Cogent Biosciences by 136.5% in the 3rd quarter. Quest Partners LLC now owns 24,982 shares of the technology company's stock valued at $270,000 after purchasing an additional 14,421 shares during 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.