Cogent Biosciences (NASDAQ:COGT) Cut to Hold at Needham & Company LLC

Needham & Company LLC lowered shares of Cogent Biosciences (NASDAQ:COGT) from a buy rating to a hold rating in a research report report published on Wednesday morning, Marketbeat.com reports.

A number of other brokerages have also commented on COGT. Citigroup raised their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. HC Wainwright reissued 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. boosted their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $8.15 on Wednesday. The firm has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $9.77. Cogent Biosciences has a 52 week low of $4.28 and a 52 week high of $12.61. The company has a market cap of $900.25 million, a PE ratio of -3.29 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the business earned ($0.64) EPS. On average, equities analysts predict that Cogent Biosciences will post -2.4 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

Several large investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new stake in shares of Cogent Biosciences in the 3rd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after buying an additional 1,104 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Cogent Biosciences in the third quarter worth about $76,000. Victory Capital Management Inc. bought a new stake in shares of Cogent Biosciences during the 3rd quarter worth about $113,000. Finally, Quest Partners LLC acquired a new position in shares of Cogent Biosciences during the 2nd quarter valued at about $89,000.

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.