Needham & Company LLC Cuts Cogent Biosciences (NASDAQ:COGT) Price Target to $15.00

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its price target decreased by Needham & Company LLC from $16.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target points to a potential upside of 42.45% from the company's previous close.

Several other equities analysts also recently commented on COGT. HC Wainwright reiterated a "buy" rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Wedbush restated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird boosted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Finally, Citigroup upped their target price on Cogent Biosciences from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.50.

Cogent Biosciences Stock Performance

COGT traded up $0.15 during trading on Wednesday, reaching $10.53. The company had a trading volume of 2,287,124 shares, compared to its average volume of 1,426,782. The business's fifty day moving average price is $11.08 and its 200 day moving average price is $9.53. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.07). During the same period last year, the company earned ($0.64) EPS. On average, analysts forecast that Cogent Biosciences will post -2.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of COGT. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 valued at $352,000 after acquiring an additional 3,912 shares during the period. Swiss National Bank boosted its holdings in Cogent Biosciences by 33.9% during the 1st quarter. Swiss National Bank now owns 124,000 shares of the technology company's stock valued at $833,000 after acquiring an additional 31,400 shares during the period. Russell Investments Group Ltd. boosted its holdings in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company's stock valued at $67,000 after acquiring an additional 7,020 shares during the period. ProShare Advisors LLC boosted its holdings in Cogent Biosciences by 15.3% during the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company's stock valued at $149,000 after acquiring an additional 2,953 shares during the period. Finally, Entropy Technologies LP purchased a new position in Cogent Biosciences during the 1st quarter valued at $213,000.

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.