Cogent Biosciences (NASDAQ:COGT) Hits New 12-Month High - Should You Buy?

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $12.21 and last traded at $12.05, with a volume of 76337 shares traded. The stock had previously closed at $11.86.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COGT. Citigroup upped their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Cogent Biosciences in a research note on Wednesday, August 7th. Wedbush reiterated a "neutral" rating and issued a $11.00 price target (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their price objective on Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Cogent Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Cogent Biosciences Stock Up 3.2 %

The stock has a fifty day moving average of $10.63 and a two-hundred day moving average of $8.99. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -4.94 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter last year, the business earned ($0.59) earnings per share. Equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in Cogent Biosciences during the 3rd quarter worth $76,000. Russell Investments Group Ltd. boosted its position in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company's stock worth $67,000 after buying an additional 7,020 shares during the period. Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the second quarter worth about $89,000. SkyView Investment Advisors LLC grew its stake in shares of Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock valued at $105,000 after buying an additional 2,500 shares in the last quarter. Finally, 49 Wealth Management LLC raised its holdings in shares of Cogent Biosciences by 20.5% during the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company's stock valued at $91,000 after buying an additional 2,236 shares during the period.

Cogent Biosciences Company Profile

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.