Cogent Biosciences (NASDAQ:COGT) Earns Hold Rating from Needham & Company LLC

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

COGT has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. HC Wainwright dropped their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $6.99 on Wednesday. Cogent Biosciences has a fifty-two week low of $5.73 and a fifty-two week high of $12.61. The company has a market capitalization of $772.13 million, a PE ratio of -2.82 and a beta of 1.77. The company has a 50 day moving average price of $8.21 and a 200-day moving average price of $9.58.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cogent Biosciences by 15.1% during the fourth 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 buying an additional 17,741 shares during the last quarter. Woodline Partners LP lifted its position in Cogent Biosciences by 2.1% during the fourth quarter. Woodline Partners LP now owns 613,165 shares of the technology company’s stock valued at $4,783,000 after acquiring an additional 12,589 shares during the last quarter. Tema Etfs LLC purchased a new stake in Cogent Biosciences during the fourth quarter valued at approximately $405,000. Rafferty Asset Management LLC boosted its stake in Cogent Biosciences by 41.5% in 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 in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Cogent Biosciences by 30.5% in the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company’s stock worth $242,000 after purchasing an additional 7,267 shares during the last quarter.

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.