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. 665,790 shares changed hands during trading, a decline of 46% from the average session volume of 1,236,360 shares. The stock had previously closed at $6.48.
Analyst Ratings Changes
Several analysts have issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. HC Wainwright lowered their price objective on Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Scotiabank assumed coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price target on the stock. Finally, Robert W. Baird cut their price objective on shares of Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.43.
View Our Latest Report on COGT
Cogent Biosciences Price Performance
The business's fifty day moving average price is $7.66 and its 200-day moving average price is $8.98. The stock has a market capitalization of $543.06 million, a PE ratio of -1.92 and a beta of 1.67.
Institutional Trading of Cogent Biosciences
Several institutional investors and hedge funds have recently bought and sold shares of COGT. Schonfeld Strategic Advisors LLC bought a new position in shares of Cogent Biosciences in the fourth quarter worth $78,000. Hsbc Holdings PLC purchased a new position in Cogent Biosciences during the fourth quarter worth about $81,000. KLP Kapitalforvaltning AS bought a new position in Cogent Biosciences in the 4th quarter worth about $88,000. E Fund Management Co. Ltd. purchased a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $89,000. Finally, Proficio Capital Partners LLC bought a new stake 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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