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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.83.

COGT has been the topic of a number of research reports. Needham & Company LLC reduced their target price on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a research report on Monday, November 4th. Citigroup lifted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Cogent Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new stake in shares of Cogent Biosciences in the 3rd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. grew 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 purchasing an additional 1,104 shares during the period. Russell Investments Group Ltd. increased its stake in Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. nVerses Capital LLC acquired a new stake in Cogent Biosciences in the third quarter worth $76,000. Finally, Quest Partners LLC bought a new position in shares of Cogent Biosciences during the second quarter worth $89,000.

Cogent Biosciences Stock Performance

Shares of COGT opened at $9.13 on Monday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -3.68 and a beta of 1.72. The stock has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $9.64. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter last year, the company earned ($0.64) earnings per share. As a group, research analysts predict that Cogent Biosciences will post -2.4 EPS for the current fiscal year.

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.