Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.67 Consensus PT from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.67.

Several research firms have recently weighed in on COGT. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 17th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a report on Friday, May 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Cogent Biosciences in a research note on Thursday, June 27th.

Cogent Biosciences Trading Up 1.5 %

NASDAQ:COGT opened at $8.36 on Friday. The company has a 50-day moving average of $8.03 and a 200-day moving average of $6.86. The firm has a market cap of $799.30 million, a price-to-earnings ratio of -3.37 and a beta of 1.71. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $13.36.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). On average, research analysts forecast that Cogent Biosciences will post -2.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Cogent Biosciences by 204.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 592,492 shares of the technology company’s stock worth $5,777,000 after acquiring an additional 397,765 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Cogent Biosciences by 3.2% during the third quarter. Citigroup Inc. now owns 82,241 shares of the technology company’s stock worth $802,000 after purchasing an additional 2,522 shares during the period. FMR LLC grew its position in Cogent Biosciences by 1,322.5% during the third quarter. FMR LLC now owns 4,569,781 shares of the technology company’s stock valued at $44,555,000 after purchasing an additional 4,248,521 shares in the last quarter. PEAK6 Investments LLC increased its stake in Cogent Biosciences by 41.8% in the 3rd quarter. PEAK6 Investments LLC now owns 23,224 shares of the technology company’s stock valued at $226,000 after buying an additional 6,844 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Cogent Biosciences in the 3rd quarter worth approximately $401,000.

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.