FY2024 Earnings Estimate for COGT Issued By Lifesci Capital

Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Stock analysts at Lifesci Capital cut their FY2024 EPS estimates for Cogent Biosciences in a report released on Wednesday, November 13th. Lifesci Capital analyst S. Slutsky now forecasts that the technology company will post earnings per share of ($2.29) for the year, down from their previous estimate of ($2.26). The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.29) per share. Lifesci Capital also issued estimates for Cogent Biosciences' Q4 2024 earnings at ($0.61) EPS.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period last year, the company posted ($0.64) EPS.

Several other research analysts also recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Cogent Biosciences in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday. Needham & Company LLC reduced their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup increased their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Finally, Wedbush reissued a "neutral" rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cogent Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

COGT traded down $0.75 during trading on Friday, hitting $8.90. The company's stock had a trading volume of 1,318,949 shares, compared to its average volume of 1,425,093. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.61. The firm has a market cap of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. The business's 50 day simple moving average is $10.99 and its 200-day simple moving average is $9.55.

Hedge Funds Weigh In On Cogent Biosciences

Institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in Cogent Biosciences during the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock worth $43,000 after buying an additional 1,104 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Cogent Biosciences by 234.5% in the 1st 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 in the last quarter. nVerses Capital LLC purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth $76,000. Finally, Quest Partners LLC purchased a new position in shares of Cogent Biosciences in the 2nd quarter worth $89,000.

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.