Scotiabank initiated coverage on shares of Cogent Biosciences (NASDAQ:COGT - Free Report) in a research report released on Friday, MarketBeat Ratings reports. The firm issued a sector outperform rating and a $17.00 price target on the technology company's stock.
Several other research analysts also recently commented on COGT. Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Wedbush reissued a "neutral" rating and set a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Robert W. Baird decreased their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their price target on shares of 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 price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.43.
Read Our Latest Analysis on Cogent Biosciences
Cogent Biosciences Stock Performance
Cogent Biosciences stock traded down $0.40 during mid-day trading on Friday, hitting $7.01. 944,550 shares of the company traded hands, compared to its average volume of 1,254,303. Cogent Biosciences has a one year low of $5.73 and a one year high of $12.61. The stock has a market cap of $798.09 million, a price-to-earnings ratio of -2.83 and a beta of 1.81. The stock has a fifty day moving average price of $8.11 and a 200-day moving average price of $9.47.
Institutional Trading of Cogent Biosciences
Large investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new stake in Cogent Biosciences in the fourth quarter valued at $78,000. Hsbc Holdings PLC bought a new stake in Cogent Biosciences in the fourth quarter valued at $81,000. KLP Kapitalforvaltning AS bought a new stake in Cogent Biosciences in the fourth quarter valued at $88,000. E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences during the 4th quarter valued at $89,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Cogent Biosciences during the 4th quarter valued at $93,000.
Cogent Biosciences Company Profile
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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.
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