Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $14.83.

COGT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Citigroup boosted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC cut Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright reissued a “buy” rating on shares of Cogent Biosciences in a research note on Wednesday, December 11th. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Monday.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in COGT. Values First Advisors Inc. acquired a new stake in Cogent Biosciences in the 3rd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC acquired a new stake in Cogent Biosciences in the 3rd quarter worth approximately $76,000. Quest Partners LLC acquired a new stake in Cogent Biosciences in the 2nd quarter worth approximately $89,000. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter.

Cogent Biosciences Price Performance

NASDAQ:COGT opened at $7.57 on Tuesday. Cogent Biosciences has a fifty-two week low of $4.28 and a fifty-two week high of $12.61. The stock’s 50-day moving average is $8.79 and its two-hundred day moving average is $9.70. The stock has a market cap of $836.20 million, a PE ratio of -3.05 and a beta of 1.76.

Cogent Biosciences (NASDAQ:COGT) last released its 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 quarter in the prior year, the firm earned ($0.64) earnings per share. On average, equities research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current year.

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.