Cogent Biosciences (NASDAQ:COGT) Price Target Increased to $10.00 by Analysts at Robert W. Baird

Cogent Biosciences (NASDAQ:COGT) had its price target upped by Robert W. Baird from $8.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on COGT. Wedbush reaffirmed a neutral rating and issued a $11.00 price objective (up from $10.00) on shares of Cogent Biosciences in a research note on Tuesday. HC Wainwright dropped their price objective on Cogent Biosciences from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $18.00 price objective on shares of Cogent Biosciences in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Cogent Biosciences from $22.00 to $19.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $14.67.

Cogent Biosciences Stock Down 2.1 %

COGT stock opened at $11.24 on Thursday. The business has a fifty day moving average of $9.36 and a two-hundred day moving average of $8.09. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -4.53 and a beta of 1.71. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $12.83.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period in the prior year, the business earned ($0.59) earnings per share. As a group, sell-side analysts anticipate that Cogent Biosciences will post -2.26 EPS for the current year.

Institutional Trading of Cogent Biosciences

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its holdings in Cogent Biosciences by 56.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,470,398 shares of the technology company’s stock worth $88,265,000 after buying an additional 3,794,150 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,500 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Cogent Biosciences by 14.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,752 shares of the technology company’s stock valued at $301,000 after purchasing an additional 4,528 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Cogent Biosciences by 144.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after purchasing an additional 2,209,918 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Cogent Biosciences by 34.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,660 shares of the technology company’s stock valued at $1,135,000 after purchasing an additional 34,655 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.