Cogent Biosciences (NASDAQ:COGT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cogent Biosciences (NASDAQ:COGT - Free Report) in a report published on Monday,Benzinga reports. Needham & Company LLC currently has a $15.00 price target on the technology company's stock.

Several other equities analysts also recently weighed in on COGT. JPMorgan Chase & Co. raised their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Robert W. Baird raised their price target on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Thursday, September 5th. HC Wainwright restated a "buy" rating and set a $17.00 price target on shares of Cogent Biosciences in a report on Monday, November 4th. Wedbush restated a "neutral" rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. Finally, Citigroup raised their price target on Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and five 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 Stock Performance

COGT stock traded up $0.78 on Monday, reaching $9.67. The company's stock had a trading volume of 6,477,503 shares, compared to its average volume of 1,450,364. The firm has a market cap of $1.07 billion, a PE ratio of -3.95 and a beta of 1.71. The business has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $9.76. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data 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 quarter last year, the firm earned ($0.64) earnings per share. As a group, research analysts anticipate that Cogent Biosciences will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several large investors have recently bought and sold shares of COGT. Values First Advisors Inc. purchased a new position in Cogent Biosciences in the third quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC purchased a new position in Cogent Biosciences in the third quarter worth about $76,000. Quest Partners LLC purchased a new position in Cogent Biosciences in the second quarter worth about $89,000. Finally, SkyView Investment Advisors LLC boosted its position in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock worth $105,000 after purchasing an additional 2,500 shares during the last quarter.

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.