Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) shares were down 5.1% during mid-day trading on Tuesday . The stock traded as low as $7.01 and last traded at $7.03. Approximately 153,657 shares changed hands during trading, a decline of 87% from the average daily volume of 1,214,344 shares. The stock had previously closed at $7.40.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on COGT shares. Scotiabank assumed coverage on Cogent Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 target price for the company. Wedbush reaffirmed a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. HC Wainwright reduced their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, Robert W. Baird dropped their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences currently has an average rating of "Moderate Buy" and an average price target of $14.43.
Get Our Latest Report on Cogent Biosciences
Cogent Biosciences Stock Down 2.0 %
The stock's 50-day moving average is $7.87 and its 200 day moving average is $9.11. The stock has a market capitalization of $737.75 million, a PE ratio of -2.61 and a beta of 1.80.
Hedge Funds Weigh In On Cogent Biosciences
A number of hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cogent Biosciences in the 4th quarter valued at $78,000. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter worth about $81,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences in the fourth quarter worth about $88,000. E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences during the 4th quarter worth about $89,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Cogent Biosciences during the 4th quarter valued at about $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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