Cogent Biosciences (NASDAQ:COGT) PT Lowered to $17.00

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its target price decreased by stock analysts at HC Wainwright from $19.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. HC Wainwright's target price would suggest a potential upside of 55.25% from the stock's current price.

A number of other brokerages have also recently weighed in on COGT. Wedbush reiterated a "neutral" rating and issued a $10.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $14.33.

Cogent Biosciences Stock Up 2.0 %

COGT traded up $0.21 on Tuesday, reaching $10.95. The company's stock had a trading volume of 1,933,614 shares, compared to its average volume of 1,529,683. The stock has a 50 day moving average of $9.24 and a two-hundred day moving average of $8.05. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.42 and a beta of 1.71. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $13.23.

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 (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter in the prior year, the business posted ($0.59) EPS. As a group, analysts anticipate that Cogent Biosciences will post -2.26 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Several hedge funds have recently made changes to their positions in COGT. 49 Wealth Management LLC lifted its holdings in shares of Cogent Biosciences by 20.5% in 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. SkyView Investment Advisors LLC lifted its holdings in 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 acquiring an additional 2,500 shares during the period. ProShare Advisors LLC boosted its position in shares of Cogent Biosciences by 15.3% during the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company's stock worth $149,000 after purchasing an additional 2,953 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cogent Biosciences by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company's stock worth $352,000 after purchasing an additional 3,912 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Cogent Biosciences by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company's stock valued at $237,000 after purchasing an additional 4,030 shares in 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.