Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.83 Average PT from Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.83.

COGT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted 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. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of Cogent Biosciences in a research report on Monday, November 4th. Citigroup boosted their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC decreased their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cogent Biosciences by 38.7% in the 3rd 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 in the last quarter. nVerses Capital LLC purchased a new position in shares of Cogent Biosciences in the 3rd quarter valued at about $76,000. Russell Investments Group Ltd. increased its stake in shares of Cogent Biosciences by 234.5% in the 1st 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. Finally, Victory Capital Management Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter valued at about $113,000.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $9.58 on Monday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.87 and a beta of 1.72. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61. The business has a fifty day moving average price of $10.78 and a 200-day moving average price of $9.66.

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

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.