Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.83.

Several equities analysts have recently issued reports on the company. Needham & Company LLC lowered Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup upped their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. HC Wainwright reiterated a “buy” rating on shares of Cogent Biosciences in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, November 12th.

Cogent Biosciences Trading Up 1.3 %

Shares of NASDAQ COGT opened at $7.86 on Friday. Cogent Biosciences has a 1-year low of $4.28 and a 1-year high of $12.61. The company has a 50-day moving average of $9.99 and a two-hundred day moving average of $9.78. The company has a market cap of $868.23 million, a PE ratio of -3.17 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the company posted ($0.64) EPS. As a group, equities research analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in Cogent Biosciences in the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $43,000 after purchasing an additional 1,104 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at $76,000. Victory Capital Management Inc. bought a new stake in shares of Cogent Biosciences in the 3rd quarter valued at $113,000. Finally, Quest Partners LLC bought a new stake in shares of Cogent Biosciences in the 2nd quarter valued at $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.