Cogent Biosciences (NASDAQ:COGT) Earns “Neutral” Rating from Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday,RTT News reports. They presently have a $11.00 target price on the technology company’s stock. Wedbush’s price target would indicate a potential upside of 55.63% from the company’s current price.

COGT has been the topic of a number of other research reports. HC Wainwright reduced their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Needham & Company LLC downgraded Cogent Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and an average target price of $14.33.

Cogent Biosciences Stock Down 5.3 %

Shares of COGT traded down $0.39 during trading hours on Tuesday, reaching $7.07. 1,390,632 shares of the company traded hands, compared to its average volume of 1,403,371. The stock has a market capitalization of $780.75 million, a PE ratio of -2.84 and a beta of 1.77. The stock has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $9.59. Cogent Biosciences has a fifty-two week low of $5.73 and a fifty-two week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Monday, February 24th. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.50. Research analysts predict that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently modified their holdings of COGT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cogent Biosciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company’s stock valued at $1,058,000 after purchasing an additional 17,741 shares during the period. Woodline Partners LP boosted its holdings in shares of Cogent Biosciences by 2.1% in the fourth quarter. Woodline Partners LP now owns 613,165 shares of the technology company’s stock worth $4,783,000 after buying an additional 12,589 shares during the period. Tema Etfs LLC purchased a new position in shares of Cogent Biosciences in the fourth quarter worth approximately $405,000. Rafferty Asset Management LLC raised its holdings in shares of Cogent Biosciences by 41.5% during the fourth quarter. Rafferty Asset Management LLC now owns 160,873 shares of the technology company’s stock valued at $1,255,000 after acquiring an additional 47,187 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Cogent Biosciences by 30.5% in the 4th quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company’s stock valued at $242,000 after acquiring an additional 7,267 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.