Robert W. Baird Raises Cogent Biosciences (NASDAQ:COGT) Price Target to $10.00

Cogent Biosciences (NASDAQ:COGT - Free Report) had its target price lifted by Robert W. Baird from $8.00 to $10.00 in a research note published on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company's stock.

Other research analysts have also recently issued reports about the stock. Wedbush reaffirmed a neutral rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Cogent Biosciences from $22.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a buy rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 7th. Finally, HC Wainwright dropped their target price on shares of Cogent Biosciences from $19.00 to $17.00 and set a buy rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $14.67.

Cogent Biosciences Stock Performance

NASDAQ:COGT traded down $0.24 during mid-day trading on Thursday, reaching $11.24. The stock had a trading volume of 1,154,609 shares, compared to its average volume of 1,530,835. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.53 and a beta of 1.71. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.83. The business has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $8.09.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). During the same quarter in the previous year, the business posted ($0.59) EPS. As a group, sell-side analysts expect that Cogent Biosciences will post -2.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cogent Biosciences by 67.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,934 shares of the technology company's stock worth $111,000 after acquiring an additional 7,606 shares during the period. Fisher Asset Management LLC grew its stake in shares of Cogent Biosciences by 48.1% during the 4th quarter. Fisher Asset Management LLC now owns 101,531 shares of the technology company's stock valued at $597,000 after buying an additional 32,962 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at $91,000. Jump Financial LLC purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at $147,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cogent Biosciences during the 4th quarter valued at $70,000.

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.