Cogent Biosciences (NASDAQ:COGT) Receives "Buy" Rating from HC Wainwright

Cogent Biosciences (NASDAQ:COGT - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports.

COGT has been the topic of several other research reports. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Wedbush reissued a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Needham & Company LLC cut Cogent Biosciences from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Robert W. Baird increased their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded down $0.23 during mid-day trading on Wednesday, reaching $9.27. The company's stock had a trading volume of 2,151,561 shares, compared to its average volume of 1,452,135. The firm has a market capitalization of $1.02 billion, a PE ratio of -3.74 and a beta of 1.71. The stock has a fifty day moving average of $10.49 and a two-hundred day moving average of $9.78. Cogent Biosciences has a 52 week low of $3.90 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.07). During the same quarter last year, the firm posted ($0.64) earnings per share. Analysts anticipate that Cogent Biosciences will post -2.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Cogent Biosciences in the 3rd quarter worth about $147,000. Geode Capital Management LLC boosted its holdings in Cogent Biosciences by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company's stock worth $24,638,000 after buying an additional 300,062 shares during the last quarter. Barclays PLC boosted its holdings in shares of Cogent Biosciences by 124.8% during the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company's stock worth $1,897,000 after purchasing an additional 97,541 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in shares of Cogent Biosciences during the 3rd quarter worth approximately $488,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Cogent Biosciences by 8.0% during the 3rd quarter. Wellington Management Group LLP now owns 342,323 shares of the technology company's stock worth $3,697,000 after purchasing an additional 25,470 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.