Shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) traded down 7.7% on Monday . The stock traded as low as $5.93 and last traded at $5.98. Approximately 665,790 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,236,360 shares. The stock had previously closed at $6.48.
Wall Street Analysts Forecast Growth
COGT has been the topic of several recent analyst reports. Wedbush reiterated a "neutral" rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Scotiabank initiated coverage on shares of Cogent Biosciences in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target on the stock. Robert W. Baird cut their price objective on Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. HC Wainwright decreased their target price on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.43.
View Our Latest Analysis on Cogent Biosciences
Cogent Biosciences Stock Down 6.8 %
The company has a 50 day simple moving average of $7.66 and a two-hundred day simple moving average of $8.98. The company has a market capitalization of $606.82 million, a P/E ratio of -2.15 and a beta of 1.67.
Hedge Funds Weigh In On Cogent Biosciences
Several large investors have recently modified their holdings of COGT. Schonfeld Strategic Advisors LLC bought a new stake in Cogent Biosciences in the fourth quarter worth $78,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth about $81,000. KLP Kapitalforvaltning AS bought a new stake in shares of Cogent Biosciences in the 4th quarter worth about $88,000. E Fund Management Co. Ltd. bought a new position in Cogent Biosciences during the 4th quarter valued at about $89,000. Finally, Proficio Capital Partners LLC bought a new position in Cogent Biosciences during the 4th quarter valued at about $93,000.
About Cogent Biosciences
(
Get Free Report)
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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